City
Epaper

RBI sets WMA limit at Rs 50K cr

By IANS | Updated: September 27, 2021 22:15 IST

Mumbai, Sep 27 India's Reserve Bank on Monday said that Rs 50,000 crore has been set as the ...

Open in App

Mumbai, Sep 27 India's Reserve Bank on Monday said that Rs 50,000 crore has been set as the 'Ways and Means Advances' (WMA) limit for the Central government during the H2FY22.

In financial parlance, the WMA is a mechanism used by the RBI, under its credit policy, to provide advances to states banking with it, to tide over temporary mismatches in the cash flow of their receipts and payments.

This is repayable in each case, not later than three months from the date of making the advance.

"It has been decided, in consultation with the Government of India, that the limit for 'Ways and Means Advances' (WMA) for the second half of the financial year 2021-22 (October 2021 to March 2022) be fixed at Rs 50,000 crore.

"The Reserve Bank may trigger fresh floatation of market loans when the Government of India utilises 75 per cent of the WMA limit."

According to the statement, the Reserve Bank retains the flexibility to revise the limit at any time, in consultation with the Centre taking into consideration the prevailing circumstances.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Tags: EndeavorindiamumbaiReserve BankIndiUk-indiaRepublic of indiaIndia indiaGia india
Open in App

Related Stories

Navi MumbaiMNS Activists Vandalize Navi Mumbai Dance Bar, Claiming 'Obscenity' Has No Place in Shivaji's Land (Watch Video)

MumbaiMumbai Road Accident: Speeding Tanker Kills Elderly Woman in Andheri; Husband Critically Injured

MumbaiEOW Cracks Down on Mithi River Scam: Two Held, BMC Officials Accused in ₹65.5 Crore Fraud

MumbaiPolice Busts Chaddi-Baniyan Gang After Burglary Cases Reported in Mumbai, Navi Mumbai and Thane

MumbaiWestern Railway Revises Timings for Several Major Long-Distance Trains from Mumbai to Gujarat; Check Updated Timetable

International Realted Stories

InternationalSmuggler detained, illegal drug discovered in Northern Afghanistan

InternationalBangladesh: Dark side of the new political order, meteoric rise of fascist forces (IANS Analysis)

InternationalPakistan: Food inflation surges in Punjab province as price control fails to deliver

InternationalPakistan, Iran agree to set USD 8 billion trade goal, nearly 2 years after cross-border conflict

InternationalOver 20 migrants dead, dozens missing as boat sinks off Yemen