GK
BANKING AWARENESS AND SEBI
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
‘Ways and Means” advances are provided by Reserve Bank of India only to:
|
|
State Government
|
|
|
Central Government
|
|
|
Both (a) and (b)
|
|
|
None of these
|
Explanation:
Detailed explanation-1: -Ways and means advances (WMA) is a mechanism used by Reserve Bank of India (RBI) under its credit policy to provide to States, banking with it, to help them tide over temporary mismatches in the cash flow of their receipts and payments.
Detailed explanation-2: -Press Releases. 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-3: -There are two types of WMA – normal and special. While Normal WMA are clean advances, Special WMA are secured advances provided against the pledge of government of India–dated securities.
There is 1 question to complete.