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Latest World News Update > Blog > Business > RBI unveils new corrective action framework for Urban Co-operative Banks – World News Network
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RBI unveils new corrective action framework for Urban Co-operative Banks – World News Network

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Last updated: July 26, 2024 12:00 am
worldnewsnetwork 11 months ago
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New Delhi [India], July 26 (ANI): The Reserve Bank of India has issued a corrective action framework for primary Urban Cooperative Banks (UCBs), which shall be followed promptly.
The provisions of the prompt corrective action framework will be effective from April 1, 2025, the RBI said in a statement on Friday.
For UCBs that are weak or experiencing financial stress, the RBI has issued a supervisory action framework as an early intervention tool to bring about desired improvements in these entities.
The supervisory framework was last revised in January 2020. Today’s corrective action framework will replace the previous supervisory framework.
The RBI stated that the corrective action framework has been suitably harmonised with similar frameworks applicable to Scheduled Commercial Banks and Non-Banking Financial Companies, with appropriate modifications, keeping in mind the underlying “principle of proportionality.”
The revised framework seeks to provide flexibility in designing entity-specific supervisory action plans based on the assessment of risks on a case-by-case basis, the central bank said.
“The objective of the PCA Framework is to enable supervisory intervention at an appropriate time and require the UCBs to initiate and implement remedial measures in a timely manner to restore their financial health. The PCA Framework does not preclude the RBI from taking any other action as it deems fit at any time, in addition to the corrective actions prescribed in the Framework.”
The prompt corrective action framework has been made applicable to urban cooperative banks in Tier 2, Tier 3, and Tier 4. Tier 1 UCBs have been excluded from the corrective action framework for the present. The urban cooperative banks have been categorised into four tiers for regulatory purposes.
“However, they shall continue to be subjected to enhanced monitoring under the extant supervisory framework,” said the RBI.
“The revised framework is expected to give more focus on the larger UCBs, requiring more intensive monitoring through the optimal utilisation of supervisory resources.” (ANI)

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