2020
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Rs 1.5 lakh crore
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Rs 1.8 lakh crore
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Rs 2.5 lakh crore
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Rs 2 lakh 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 2022-23 (October 2022 to March 2023) will be ₹50, 000 crore.
Detailed explanation-2: -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?
Detailed explanation-3: -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-4: -As announced in the Monetary Policy Statement 2022-23 dated December 07, 2022, the Bank Rate is revised upwards by 35 basis points from 6.15 per cent to 6.50 per cent with immediate effect.