Top headlines: PCA framework for NBFCs; Nov WPI inflation spikes to 14.23%

Business Standard brings you the top headlines on Tuesday

RBI introduces tough PCA framework for large NBFCs, effective October 2022

The Reserve Bank of India (RBI) on Tuesday introduced prompt corrective action (PCA) framework for large non-banking financial companies (NBFC). This will place severe restrictions on the para-banks whenever critical financial metrics dip below the prescribed threshold, thereby bringing them almost at a par with commercial banks in terms of supervision and regulatory reach.

The PCA Framework for NBFCs comes into effect from October 1, 2022, based on the financial position of NBFCs on or after March 31, 2022. Read more

WPI-based inflation hits 12-year high of 14.2% in Nov