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Our Bureau

Mumbai , March 31

THE Reserve Bank of India, has in consultation with the Government of India, fixed the limit for the ways and means advances (WMA) to the Government at Rs 10,000 crore for the first half of the year (April to September) and Rs 6,000 crore for the second half of the year (October to March).

When the Government utilises 75 per cent of the limit of WMA, RBI may trigger fresh flotation of market loans depending on market conditions, said an RBI press release

The interest rate on WMA will be at bank rate, i.e, 6 per cent, and for overdraft, at two per cent above the bank rate, the release said.

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