Q. The prompt corrective action (PCA) framework for large NBFCs is to come into effect from which date?
Answer:
October 1, 2022
Notes: The Reserve Bank of India (RBI) introduced a prompt corrective action (PCA) framework for large non-banking financial companies (NBFCs).
The PCA framework for NBFCs comes into effect on October 1 next year on the basis of their financial position on or after March 31. NBFCs not taking deposits and with an asset size of less than Rs 1,000 crore, primary dealers, government-owned NBFCs, and housing finance companies are exempt from this framework.