RBI set WMA Limit for Government of India for the first half of the Financial Year 2022-23 at Rs 1,50,000 crore

RBI set WMA Limit for Government of India for the first half of the Financial Year 2022-23 at Rs 1,50,000 crore

RBI set WMA Limit for Government of India for the first half of the Financial Year 2022-23 at Rs 1,50,000 crore

  • The Reserve Bank of India has set the limit for Ways and Means Advances (WMA) for Central Govenment for the first half of the financial year 2022-23 (April 2022 to September 2022) at Rs. 1,50,000 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:
    • WMA: Repo Rate
    • Overdraft: Two percent above the Repo Rate

Points to remember:

  1. WMA limit for central govt for April 2022 to September 2022?= Rs 1.5 Lakh Crore
  2. Interest rate charged by RBI on WMA given to Central Govt?= Repo Rate

Source: RBI

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