RBI extends temporary advances limit of Rs 51,560 cr for sta

RBI extends temporary advances limit of Rs 51,560 cr for states, UTs till Sep


RBI extends temporary advances limit of Rs 51,560 cr for states, UTs till Sep
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Last Updated: Apr 23, 2021, 08:51 PM IST
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Synopsis
The RBI said it has revised the WMA Scheme of States and Union Territories (UTs) based on the recommendations of the Advisory Committee on WMA to state governments. The WMA limit arrived at by the Committee based on total expenditure of States/ UTs, works out to Rs 47,010 crore.
Reuters
The Reserve Bank will review the WMA limit thereafter, depending on the course of the pandemic and its impact on the economy, the central bank said.
The RBI on Friday said the existing interim Ways and Means Advances (WMA) limit of Rs 51,560 crore for all states and Union Territories will continue up to September 30, 2021, as the effect of the COVID-19 pandemic is still prevalent.

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