RBI Issues ‘Prompt Corrective Action’ Framework for Primary (Urban) Cooperative Banks
- Blog|News|FEMA & Banking|
- < 1 minute
- By Taxmann
- |
- Last Updated on 29 July, 2024
Latest from Taxmann
Circular No. RBI/2024-25/55 DOS.CO.PPG.SEC.No.8/11.01.005/2024-25; Dated: 26.07.2024
RBI has issued a prompt corrective action (PCA) framework for primary urban cooperative banks. The objective of the framework is to enable supervisory intervention at an appropriate time and require the UCBs to initiate and implement remedial measures in a timely manner to restore their financial health. The framework shall apply to all UCBs under Tier 2, Tier 3, and Tier 4 categories except UCBs under All Inclusive Directions. The provisions of the framework will be effective from April 1, 2025.
Click Here To Read The Full Circular
Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any.
Sign Up
To subscribe to our weekly newsletter please log in/register on Taxmann.com
One thought on “RBI Issues ‘Prompt Corrective Action’ Framework for Primary (Urban) Cooperative Banks”