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 2023-24 (October 2023 to March 2024) will be ₹50,000 crore.

The Reserve Bank of India may trigger fresh floatation of market loans when the Government of India utilises 75 per cent of the WMA limit.

The Reserve Bank of India, in consultation with the Government of India, retains the flexibility to revise the limit at any time taking into consideration the prevailing circumstances.

The interest rate on WMA/Overdraft will be:

1. WMA: Repo Rate

2. Overdraft: Two percent above the Repo Rate

(Yogesh Dayal)     
Chief General Manager

Press Release: 2023-2024/996