Revised Prompt Corrective Action (PCA) framework for banks
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Please refer to RBI circulars No. DBS.CO.PP.BC.9/11.01.005/2002-03 dated December 21, 2002 and DBS.CO.PP.BC.13/11.01.005/2003-04 dated June 15, 2004 on the scheme of Prompt Corrective Action.
2. The existing PCA framework for banks has since been reviewed and revised. The salient features are provided in the Annex. 3. The provisions of the revised PCA framework will be effective from April 1, 2017 based on the financials of the banks for the year ended March 31, 2017. The framework would be reviewed after three years.
4. The PCA framework does not preclude the Reserve Bank of India from taking any other action as it deems fit in addition to the corrective actions prescribed in the framework.
5. The contents of the circular may be brought to the attention of the bank’s Board of Directors.
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