Prompt Corrective Action (PCA) Framework for Non-Banking Financial Companies (NBFCs) – Extension to Government NBFCs

Posted Date : 11-Oct-2023 , 09:59:57 pm | Posted By CASANSAAR print

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RBI/2023-24/67
Ref. No.DoS.CO.PPG/SEC.05/11.01.005/2023-24

October 10, 2023

All Deposit Taking Government NBFCs
All Non-Deposit Taking Government NBFCs in Middle, Upper and Top Layers

Dear Sir / Madam

Prompt Corrective Action (PCA) Framework for Non-Banking Financial Companies (NBFCs) – Extension to Government NBFCs

Reserve Bank of India introduced PCA Framework for NBFCs on December 14, 2021. The Framework has since been reviewed and it has been decided to extend the same to Government NBFCs (except those in Base Layer) with effect from October 1, 2024, based on the audited financials of the NBFC as on March 31, 2024, or thereafter.

Yours faithfully,

(Tarun Singh)
Chief General Manager

Category : RBI | Comments : 0 | Hits : 750

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