CURRENT AFFAIRS

2020

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

RBI raises Ways and Means Advances limit for States by how much percent over and above the level as on 31 March 2020?

A	30%
B	60%
C	40%
D	50%

Explanation:

Detailed explanation-1: -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-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: -The Monetary Policy Committee (MPC) met on 6th, 7th and 8th February 2023. Based on an assessment of the macroeconomic situation and its outlook, the MPC decided by a majority of 4 members out of 6 to increase the policy repo rate by 25 basis points to 6.50 per cent, with immediate effect.

There is 1 question to complete.