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The Reserve Bank Tuesday said it has been decided to extend the Prompt Corrective Action (PCA) framework for NBFCs to Government owned NBFCs (except those in Base Layer) with effect from October 1, 2024, based on the audited financials as on March 31, 2024, or thereafter ....
The Reserve Bank of India (RBI) has announced that government-owned non-banking financial companies (NBFCs) will be subject to the strict supervisory norms of the Prompt Corrective Action (PCA) Framework starting from October 2024. This framework includes restrictions on dividend distribution and profit remittance, requirements for equity infusion by promoters/shareholders, leverage reduction, and limitations on issuing guarantees or taking on contingent liabilities for group companies. ....
Explained: Why The RBI Is Introducing Tough PCA Framework For NBFCs swarajyamag.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from swarajyamag.com Daily Mail and Mail on Sunday newspapers.