Money & Banking

Will enhance aggregate limit of WMA for States, UTs: RBI

Our Bureau Mumbai | Updated on April 07, 2021

Its an increase of 46% from the current limit of ₹32,225 crore

The Reserve Bank of India (RBI) has decided to enhance the aggregate limit of ways and means advance (WMA) limit for all States and Union Territories to ₹47,010 crore, which is an increase of 46 per cent from the current limit of ₹32,225 crore.

Also read: RBI proposes mandatory interoperability of full KYC prepaid instruments

The central bank also decided to continue with the enhanced interim WMA limit of ₹51,560 crore granted by RBI due to the pandemic for a further period of six months (September 30, 2021).

Under WMA, States and UTs get short-term credit up to three months from the RBI to bridge temporary mismatches in cash flows.

Published on April 07, 2021

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