Daily MCQs for UPSC/State PSC Exams: 26 December 2018

Question 1 of 10

Q1. Consider the following statements with reference to Prompt Corrective Action (PCA) Framework:

1. It has been launched by the RBI to assess, monitor, control and take corrective actions on banks which are weak and troubled.
2. It is for the first time when RBI used this mechanism.
3. Only Public Sector Banks are assessed under PCA framework.

Which of the statements given above is/are not correct?

(A) 2 only
(B) 3 only
(C) 2 and 3 only
(D) 1 and 3 only