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  9. Q4

HPSC HCS 2024 · Question 4 of 100

Consider the following statements regarding Prompt Corrective Action (PCA) Framework: 1. Currently PCA supervisory norms are applicable to both Government and non-Government NBFC’s. 2. Discretionary actions under PCA include Restriction on Branch Expansion How many of the statements given above are correct?

Economy

  1. A1 onlyCorrect
  2. B2 only
  3. CBoth 1 and 2
  4. DNone

Answer: A. 1 only

Explanation

RBI's October 2023 circular extended PCA to government NBFCs, so the norms now apply to both government and non-government NBFCs. Restriction on branch expansion is a mandatory corrective action, not a discretionary one.

Source: HPSC HCS Prelims Paper-I held 11 Feb 2024 (freejobalert PDF)

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