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 …
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