The Reserve Bank of India (RBI) on March 27, 2024, issued the notification regarding the WMA Limit for the Government of India for the first half of the Financial Year 2024-25.
The following has been stated namely: -
• The limit for Ways and Means Advances (WMA) for the first half of the financial year 2024-25 (April to September 2024) will be ₹1,50,000 crore.
• The Reserve Bank of India may trigger fresh floatation of market loans when the Government of India utilises 75 percent of the WMA limit.
• The interest rate on WMA/Overdraft will be:
o WMA: Repo Rate
o Overdraft: Two percent above the Repo Rate
[Press Release: 2023-2024/2136]
