Key Points
The Reserve Bank of India has decided to bring state-owned non-banking finance companies under the prompt corrective action (PCA) framework from October next year..
The PCA Framework for NBFCs was introduced on December 14, 2021, as these lenders have grown in size and become systemically important due to interconnectedness with other segments of the financial system...
This framework for taking corrective measures was first introduced in 2002 for scheduled commercial banks to enable supervisory intervention at appropriate times and guide financially weak banks to take remedial measures to restore financial health...
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