Multiple Choice Questions on The Prompt Corrective Action PCA is applicable only to Commercial banks Co operative banks Non banki........... for UPSC Civil Services Examination (General Studies) Preparation

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Multiple Choice Questions

The Prompt Corrective Action PCA is applicable only to Commercial banks Co operative banks Non banki...........

Economic Affairs Types of Banks and Banking
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    The Prompt Corrective Action (PCA) is applicable only to

    1. Commercial banks
    2. Co-operative banks
    3. Non-banking financial companies
    4. Foreign banks

    Select the correct code.

    1&4 only

    Correct Answer

    2&3 only

    Incorrect Answer

    1,2&4 only

    Incorrect Answer

    1,2&3 only

    Incorrect Answer
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    Explanation:

    Both codes 1&4 are correct.

    • The PCA framework is applicable only to commercial banks and not extended to co-operative banks, non-banking financial companies (NBFCs) and FMIs.
    • The framework will apply to all banks operating in India including foreign banks operating through branches or subsidiaries based on breach of risk thresholds of identified indicators.

    Hence option 1st is correct.

    By: Shubham Tiwari
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