Comments
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.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.