Question
According to the information provided by the Reserve
Bank of India, Prompt Corrective Action (PCA) Framework will apply to government-owned non-banking financial companies & these include PFC, REC, IRFC and IFCI.Thus the framework will be applied from ________.ÂSolution
 The Reserve Bank of India has notified that the strict supervisory norms under the Prompt Corrective Action (PCA) Framework will apply to government-owned non-banking financial companies from October 2024. Being put under the PCA framework means restrictions on dividend distribution/ remittance of profits; promoters/ shareholders to infuse equity and reduction in leverage; and restrictions on the issue of guarantees or taking on other contingent liabilities on behalf of group companies. Some of the major government non-banking financial companies (NBFCs) include PFC, REC, IRFC and IFCI.
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