PCA norms, NBFC issues to be govt's priorities in Nov 19 RBI meet

The government wants the RBI to align its regulatory capital norms and the PCA framework with Basel-III guidelines, an international regulatory framework for banks

When Economic Affairs Secretary Subhash Garg and Financial Services Secretary Rajiv Kumar walk into the Reserve Bank of India’s (RBI’s) board meeting on November 19, their priority will be on two points: Getting the RBI board of directors to pass a resolution on easing of prompt corrective action (PCA) norms, and on a special refinance window for non-banking financial companies (NBFCs), housing finance companies (HFCs) and mutual funds.

All other contentious issues between the government and the RBI, including a new economic capital framework and the additional surplus arising out of it, regulation of state-owned banks, payment regulations, and others