Current Affairs   »   RBI sets WMA Limit for Central...

RBI sets WMA Limit for Central Government for at Rs. 50,000 crore

RBI sets WMA Limit for Central Government for at Rs. 50,000 crore_50.1

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 Reserve Bank retains the flexibility to revise the limit at any time, in consultation with the Government of India, taking into consideration the prevailing circumstances.

Buy Prime Test Series for all Banking, SSC, Insurance & other exams

The interest rate on WMA/overdraft will be:

  • For WMA: Repo Rate
  • For Overdraft: Two per cent above the Repo Rate

Important takeaways for all competitive exams:

  • RBI 25th Governor: Shaktikant Das; Headquarters: Mumbai; Founded: 1 April 1935, Kolkata.

Find More Banking News Here

RBI sets WMA Limit for Central Government for at Rs. 50,000 crore_60.1

RBI sets WMA Limit for Central Government for at Rs. 50,000 crore_70.1

Thank You, Your details have been submitted we will get back to you.

Leave a comment

Your email address will not be published. Required fields are marked *