Banks need to adopt a customer-centric approach- Finance Minister

bank need to adoopt a customer-centric

Finance Minister Nirmala Sitharaman said on Wednesday that banks should adopt a customer-centric approach by understanding their needs and expectations. After the soft launch of Enhanced Access and Service Excellence-EASE 5.0, the minister said that technology initiatives and robust security mechanisms need to be developed.

Speaking at the event, where heads of public sector banks (PSBs) attended virtually, Financial Services Secretary Sanjay Malhotra said that all PSBs are now profitable and have stronger balance sheets and it is imperative that they take advantage of this position of power to significantly increase their competitiveness.

He said that ‘PSB Manthan 2022’, held in April 2022 with the functional heads of PSBs, paved the way for the birth of a broader and bolder program.

The startups will be on a variety of themes, including business growth, profitability, risk, customer service, operations, and talent development. PTI DP AB.

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