RBI vs Govt | Govt had accepted RBI’s new PCA rules, show papers
The finance ministry's department of financial services had in a letter dated 3 March 2017 conveyed its acceptance and approval of the new RBI PCA framework
Mumbai: Not only was the union finance ministry aware of changes to the Reserve Bank of India’s (RBI’s) prompt corrective action (PCA) rules, it had accepted them as well, show communications between the government and the central bank. In a letter dated 3 March 2017, more than a month before RBI put the new rules in place, the finance ministry’s department of financial services (DFS) conveyed its acceptance and approval of the revised PCA framework.
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