This year has been a season of putting banks under PCA category. What is the meaning of "P" in PCA?

Prompt

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Solution

The correct option is A
Prompt

This year has been a season of putting banks under Prompt Corrective Action (PCA) category. The RBI had revised the PCA framework on 13 April 2017.

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The Reserve Bank of India has put United Bank of India (UBI) under the prompt corrective action (PCA) framework, recently. The UBI headquarters is in

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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