BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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30 days
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60 days
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90 days
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180 days
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Detailed explanation-1: -States and centre pay interest linked to the repo rate on WMA withdrawals. The government can avail of immediate cash from the RBI is required. But it has to return the amount within 90 days.
Detailed explanation-2: -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-3: -repayable in each case not later than three months from the date of making that advance’.
Detailed explanation-4: -The Monetary Policy Committee The MPC determines the policy repo rate required to achieve the inflation target. The MPC is required to meet at least four times in a year.