RBI sets WMA Limit for Central Government for (October 2021 to March 2022) at Rs. 50,000 crore

RBI sets WMA Limit for Central Government for (October 2021 to March 2022) at Rs. 50,000 crore

• The Reserve bank of India has set the limit for Ways and Means Advances (WMA) for the second half of the financial year 2021-22 i.e October 2021 to March 2022 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.
• The interest rate on WMA/overdraft will be:
  • o   For WMA: Repo Rate
  • o   For Overdraft: Two percent above the Repo Rate

Points to remember:

1. Limit for WMA for Central Government for October 2021 to March 2022?

Source: RBI