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RBI extends temporary advances limit of Rs 51,560 crore for states, UTs till September
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. WMAs are temporary advances given by the RBI to the government to tide over any mismatch in receipts and payments.
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. ....

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