The RBI in consultation with the government of India has set the limits for WMA for the first half of the financial year 2019-20 (April 2019 to September 2019) at Rs 75000 crore. What is the full form of WMA?

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	Ways and Means Advances
B	Ways and Means Account
C	Ways and Means Amount
D	Ways and Means Assets

Explanation:

Detailed explanation-1: -Press Releases. It has been decided, in consultation with the Government of India, that the limit for Ways and Means Advances (WMA) for the first half of the financial year 2022-23 (April 2022 to September 2022) will be ₹1, 50, 000 crore.

Detailed explanation-2: -7. To take care of temporary mismatches in Government accounts, the Reserve Bank of India has fixed the Ways and Mean Advances (WMA) limit for H2 of FY 2022-23 at ₹50, 000 crore.

Detailed explanation-3: -Considering the uncertainties related to the ongoing pandemic, it was decided to continue with the higher WMA limit of ₹51, 560 crore for all States, by a further period of six months i.e., up to March 31, 2022. The WMA limit for State Governments/UTs will be ₹47, 010 crore.

Detailed explanation-4: -It has been decided, in consultation with the Government of India, that the limits for Ways and Means Advances (WMA) for the first half of the financial year 2021-22 (April 2021 to September 2021) will be ₹1, 20, 000 crore.

Detailed explanation-5: -2.2 Under Section 17(5) of RBI Act, 1934, the RBI provides Ways and Means Advances (WMA) to the States banking with it to help them to tide over temporary mismatches in the cash flow of their receipts and payments.

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