2020
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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RS 1, 25, 000 crore
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RS 1, 00, 000 crore
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RS 75, 000 crore
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RS 2, 25, 000 crore
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Detailed explanation-1: -It has been decided, in consultation with the Government of India, that the limit for Ways and Means Advances (WMA) for the second half of the financial year 2021-22 (October 2021 to March 2022) be fixed at ₹50, 000 crore.
Detailed explanation-2: -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 COVID-19, the RBI had raised the WMA limit to ₹51, 560 crores for all States. The higher WMA was applicable till March 31, 2022. How the central government meets the temporary cash needs? What are Ways and means advances (WMA)?
Detailed explanation-4: -The Reserve Bank may trigger fresh floatation of market loans when the Government of India utilises 75 per cent of the WMA limit. The Reserve Bank retains the flexibility to revise the limit at any time, in consultation with the Government of India, taking into consideration the prevailing circumstances.