RBI Raises WMA Limit To ₹2-lakh Crore In H1 FY21
Money & Banking
To tide over the situation arising from the outbreak of Covid-19 pandemic, the Reserve Bank of India (RBI), in consultation with the Government of India, has revised the limit for Ways and Means Advances (WMA) for the remaining part of the first half of FY21 (April 2020 to September 2020) to ₹2-lakh crore.
On March 31, the WMA limit for the first half of FY21(April 2020 to September 2020) was upped to ₹1.20-lakh crore against ₹75,000 crore in the year-ago period. The hike in the limit comes in the wake of expectation that the Central government will step up expenditure on the social sector, including health and sanitation, following outbreak of the pandemic.
The central bank provides financial accommodation to the government to tide over temporary mismatches in the cash flow of its receipts and payments as WMA. This is intended to provide a cushion to the government to carry on its essential activities and normal financial operations.
Published on
April 20, 2020
To tide over the situation arising from the outbreak of Covid-19 pandemic, the Reserve Bank of India (RBI), in consultation with the Government of India, has revised the limit for Ways and Means Advances (WMA) for the remaining part of the first half of FY21 (April 2020 to September 2020) to ₹2-lakh crore.
On March 31, the WMA limit for the first half of FY21(April 2020 to September 2020) was upped to ₹1.20-lakh crore against ₹75,000 crore in the year-ago period. The hike in the limit comes in the wake of expectation that the Central government will step up expenditure on the social sector, including health and sanitation, following outbreak of the pandemic.
The central bank provides financial accommodation to the government to tide over temporary mismatches in the cash flow of its receipts and payments as WMA. This is intended to provide a cushion to the government to carry on its essential activities and normal financial operations.
Published on
Former Army Maj. Gen. John B. Richardson IV Joins USAA To Lead Military Affairs
Two-star general and decorated combat veteran to bring forward-looking vision in continued service to military members a... Read more
Steeped In Tradition: USAA Kicks Off 124th Army-Navy Game Celebrations In A Massive Way, Honoring 250th Anniversary Of The Boston Tea Party
USAA honors history of rivalry game and the city, bringing giant bag of tea to Boston’s historic sites Read more
USAA Life Insurance Announces New Relationship With Trust & Will
USAA Life Insurance Company, a leading financial services brand for military members and their families, and Trust &... Read more
“Go Beyond Thanks:” New Survey Reveals We Should Do More Than Simply Thank Our Veterans For Their Service
Data Reveals Half of Military/Veterans Surveyed Feel Uncomfortable or Awkward When Someone Says the Phrase “Thank You ... Read more
USAA Expanding Education Program To Include Tuition-Free Support For Employees And Employee Dependents
Company also announces student loan 401(k) contribution match up to 8% Read more
USAA Life Insurance Company Introduces Fixed Indexed Annuity
New product provides tax-deferred growth along with principal protection to help build retirement savings. Read more