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RBI may make changes in Prompt Corrective Action framework
Highlights
The Reserve Bank may make some changes in the Prompt Corrective Action PCA framework that put restrictions on financially weak banks, sources said
New Delhi: The Reserve Bank may make some changes in the Prompt Corrective Action (PCA) framework that put restrictions on financially weak banks, sources said.
The changes could be made in the next few weeks after taking into account various aspects and in the larger interest of the banking system, sources said, adding, the recent RBI board meeting had a discussion over the issue.
As many as 11 out of 21 banks are under the RBI's watchlist. Of these, two banks, Dena Bank and Allahabad Bank, are facing restrictions on expansion of business. Last month, state-run banks had requested the government for relaxation in PCA guidelines as these were indirectly impacting their lending ability.
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