RBI revises ‘Prompt Corrective Action’ framework for Scheduled Commercial Banks

The Reserve Bank of India has revised Prompt Corrective Action (PCA) framework for Scheduled Commercial Banks which will be effective form Jan, 2021. The objective of the PCA Framework is to enable Supervisory intervention at appropriate time and require the Supervised Entity to initiate and implement remedial measures in a timely manner, so as to restore its financial health.The Reserve Bank of India has revised Prompt Corrective Action (PCA) framework for Scheduled Commercial Banks which will be effective form Jan, 2021. The objective of the PCA Framework is to enable Supervisory intervention at appropriate time and require the Supervised Entity to initiate and implement remedial measures in a timely manner, so as to restore its financial health.taxmann.com Latest Statutory HappeningsRead More

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