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RBI plans PCA framework, different supervisory system for NBFCs by 2022

The RBI contemplates a return to an earlier supervisory rating framework for NBFCs, too, while ensuring financial statement disclosures here are on a par with banks

Somesh Jha  |  New Delhi 

The Reserve Bank of India (RBI) is planning a prompt corrective action (PCA) framework and a different supervisory system for non-banking financial companies (NBFCs) by 2022. Its medium-term strategy, termed Utkarsh 2022, talks of a “revised and effective PCA framework for NBFCs” as part of a policy for achieving “excellence” in performance of its statutory role, among other steps.

This means NBFCs will have to strictly meet benchmarks on capital requirement, non-performing assets (NPAs), and asset quality. The RBI contemplates a return to an earlier ...

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First Published: Mon, November 11 2019. 01:05 IST
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