Consider the following statements w r t corrective action PCA framework recently issued by the RBI 1...........

Current GK ( Master) Rural Banking and financial institutions

Consider the following statements w.r.t. corrective action (PCA) framework recently issued by the RBI.

1. New prompt corrective action (PCA) framework applies on urban cooperative banks (UCBs).

2. The prompt corrective action (PCA) framework enables supervisory intervention at an appropriate time, and the same will be effective from April 2025.

Which of these statement is/are correct?

Only 1

Only 2

Both 1 and 2

None of above

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Explanation:

The Reserve Bank of India (RBI) has issued a new prompt corrective action (PCA) framework for urban cooperative banks (UCBs) to enable supervisory intervention at an appropriate time, and the same will be effective from April 2025.