RBI Issues ‘Prompt Corrective Action’ Framework for Primary (Urban) Cooperative Banks
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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.
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