RBI extends interim WMA limit of ₹51,560 cr to states till September
The Hindu
Ways and means advances are temporary advances given by the RBI to the States to tide over any mismatch in receipts and payments
The Reserve Bank of India (RBI) on April 7 announced an extension of interim ways and means advances (WMAs) limit of ₹51,560 crore to State governments till September, to help them tide over the financial stress posed by the second wave of COVID-19. WMAs are temporary advances given by the RBI to the States to tide over any mismatch in receipts and payments. There are two types of WMA — normal and special. While normal WMA are clean advances, special WMA are secured advances provided against the pledge of the Government of India dated securities.More Related News