Ref. RBI-2004-243
DBS.CO.PP.BC
13 /11.01.005/2003-04 June 15, 2004 All
Scheduled Commercial Banks (excluding RRBs) Dear
Sir, Prompt Corrective Action (PCA) Please
refer to our circular No. DBS.CO.PP.BC.
9/11.01.005/2002-03 dated December 21, 2002 on the scheme of Prompt Corrective
Action. 2. As you are aware, the
scheme of PCA has been in operation since December 2002. The operation of the
scheme has been reviewed recently by the Board for Financial Supervision (BFS)
and it has been decided to continue the scheme in the present form. 3. You
are advised to take necessary steps to ensure that your bank does not come within
the PCA framework. 4. Please
acknowledge receipt.
Yours
faithfully,
(G
Gopalakrishna)
Chief General Manager-in-Charge
|