PCA-Like Framework for NBFCs Possible in the Near Future, Says Report
July 29, 2019
According to a report by The Times of India, a framework akin to the prompt corrective action (PCA) that was set up the central bank RBI could be introduced for the non-banking financial companies soon.
The Reserve Bank of India has asked NBFCs to make provisions for the loans acquired for the moratorium period. The potentially upcoming PCA framework for the financial firms may cover the top 50 NBFCs in the country, the report said.