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RBI extends Ways and Means credit for States, UTs to Sept.


Prevalence of COVID-19 cases influences decision
The Reserve Bank of India (RBI) decided to continue with the existing interim Ways and Means Advances (WMA) scheme limit of ₹51,560 crore for all States/ UTs shall for six months i.e., up to September 30, given the prevalence of COVID-19.
Based on the recommendations of the Advisory Committee on WMA to State Governments, 2021 chaired by Sudhir Shrivastava the RBI had revised the WMA Scheme of States and Union Territories (UTs), it said.
The WMA limit arrived at by the Committee based on total expenditure of States/ UTs, works out to ₹47,010 crore. The RBI said it would review the WMA limit thereafter, depending on the course of the pandemic and its impact on the economy. ....

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