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RBI delays discussing easing PCA rules despite govt pressure: Report

The source said that the central bank's board for financial supervision (BFS) only discussed the banks' September quarter results and did not address PCA plan that they currently have to operate

Reuters  |  Mumbai 

A crucial Reserve Bank of India (RBI) sub-committee did not discuss easing lending curbs facing 11 state-run banks on Thursday despite intense pressure from the nation's government to take a softer stance towards them, a source close to the discussions said. The source said that the central bank's board for financial supervision (BFS) only discussed the banks' September quarter results and did not address the so-called prompt corrective action (PCA) plan that they currently have to operate under. That plan which restricts their lending has been imposed in recent years ...

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First Published: Thu, December 06 2018. 22:57 IST
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