AI tools to speed up loan approvals at PSBs
Seven major public sector banks in India just rolled out 32 new generative AI tools under the EASE 8.0 program.
The goal? To make banking smoother and faster—especially when it comes to checking creditworthiness.
With these AI upgrades, banks can now quickly analyze things like your business background, financial health, and repayment history, making loan approvals a lot more efficient.
Next phase of EASErise focuses on risk management
Ten PSBs have also set up new AI policies to automate tricky processes and help staff make better decisions using data.
Plus, nine banks are using digital tools to manage risks more effectively.
Looking ahead, the next phase—EASErise for 2025-26—will focus on stronger risk management, including fortifying risk-management systems, enhancing the ability of PSBs to absorb economic shocks and safeguarding financial stability, tying into broader discussions on banking transformation, cyber security and financial inclusion, while a fully insured and pensioned society by 2047 is mentioned separately under the Viksit Bharat roadmap.