RBI Increased Financial Support For States/UTs By 28% To Rupees 60,118 Crore
RBI Increased Financial Support For States/UTs By 28% To Rupees 60,118 Crore
The Reserve Bank of India (RBI) increased the aggregate Ways and Means Advances (WMA) limit for State governments and Union Territories (UTs) by 28%, from Rupees 47,010 crore to Rupees 60,118 crore, beginning July 1, 2024. This adjustment, based on recommendations from a select group of state finance secretaries and recent expenditure data, aims to assist states and union territories in managing temporary cash flow imbalances.
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