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.

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.

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: 2022-2023/962