Prompt Corrective Action is applicable to commercial banks as well as cooperative banks and NBFCs
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?
Commercial banks occupy a vital position as they provide funds for different_____________ as well as different time periods.