RBI fixes WMA limits for the State Governments/UTs to Rs 47,010 crore

In view of improvement in the pandemic situation, the Reserve Bank on Friday decided to reduce the Ways and Means Advances (WMA) for states and Union Territories to Rs 47,010 crore from Rs 51,560 crore. These norms will be effective from April 01, 2022.

RBI had raised the WMA limit to Rs 51,560 crore for all States/UTs in October 2021, due to the uncertainties related to Covid-19. The higher WMA was applicable till 31 March 2022.