RBI introduces prompt corrective action framework for NBFCs:

GS Paper 3: Topics Covered: Inclusive growth and issues arising out of it.   Context: The Reserve Bank of India (RBI) has introduced the prompt corrective action (PCA) framework for non-banking financial companies (NBFCs). The PCA framework for NBFCs will come into effect on October 1,2022 on the basis of their financial position on or …

RBI panel on ARCs

  Topics Covered: Inclusive growth and related issues.   Context: To streamline the functioning of asset reconstruction companies (ARCs), the Reserve Bank panel has come out with a host of suggestions.   Background: The RBI had set up a committee headed by Sudarshan Sen to undertake a comprehensive review of the working of asset reconstruction …