Ways and Means Advances
On 17th April, 2020, the Reserve Bank of India (RBI), announced a 60% increase in the Ways and Means Advances (WMA) limit of state governments over and above the level as on March 31,2020,with a view to enabling them “to undertake COVID-19 containment and mitigation efforts” and “to better plan their market borrowings”.
About WMA
- Simply put, it is a facility for both the Centre and states to borrow from the RBI.
- These borrowings are meant purely to help them to tide over temporary mismatches in cash flows of their receipts and expenditures. In that sense, they aren’t a source ....
Do You Want to Read More?
Subscribe Now
To get access to detailed content
Already a Member? Login here
Take Annual Subscription and get the following Advantage
The annual members of the Civil Services Chronicle can read the monthly content of the magazine as well as the Chronicle magazine archives.
Readers can study all the material since 2018 of the Civil Services Chronicle monthly issue in the form of Chronicle magazine archives.
News Snippets
- 1 India Elected to GloBE Steering Committee
- 2 India Abstains from UN General Assembly Vote on Resolution
- 3 India-Uzbekistan Bilateral Investment Treaty
- 4 World Employment and Social Outlook
- 5 India and EU Boost Defence and Security Cooperation
- 6 Hezbollah-Israel Conflict
- 7 Salt Pan Land Transfer
- 8 Karvi Bloom
- 9 New Banded Dragonfish Species Discovered
- 10 Carrhotus piperus
