Prompt Corrective Action (PCA) framework was introduced by Reserve Bank of India in December, 2002 under its supervisory framework to maintain sound financial health of banks. Its objective is to facilitate the banks to take corrective measures including those prescribed by the Reserve Bank, in a timely manner, in order to restore their financial health.
The PCA framework has been in operation since December 2002 and the guidelines of revised version were issued on April 13, 2017.
Some of the schemes introduced by RBI under PCA are:
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