Prompt corrective action is applicable to banks whose financial situation have weakened

True

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False

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Solution

The correct option is A True

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The parameters that invite Prompt Corrective Action from the central bank are

Q13. Consider the following statements about Prompt Corrective Action, or PCA:

1. It is meant to assess, monitor, control and take corrective actions on banks which are weak and troubled.

2. The process or mechanism under which such actions are taken is known as Prompt Corrective Action, or PCA.

Which of the following statements are correct?

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