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ARTICLE · 01 OCTOBER 2024

AKP Banking & Finance Digest- September 30, 2024

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RBI, in consultation with the Government of India, has set the Ways and Means Advances ("WMA") limit at INR 50,000 crore (Indian Rupees Fifty Thousand Crores only) for the second half of Fiscal Year ("FY") 2024-25...

IndiaFinance and Banking
Anuroop Omkar
Anuroop Omkar

1. Regulatory Updates

1.1. India

1.1.1 WMA limit set at INR 50,000 crore for October 2024 to March 2025

RBI, in consultation with the Government of India, has set the Ways and Means Advances (“WMA”) limit at INR 50,000 crore (Indian Rupees Fifty Thousand Crores only) for the second half of Fiscal Year (“FY”) 2024-25 (October 2024 to March 2025). If the government utilises 75 per cent (seventy-five per cent) of this limit, the RBI may trigger fresh market loans. The WMA interest rate will align with the repo rate, while overdrafts will incur a 2 per cent (two per cent) higher rate. The RBI retains the flexibility to revise the limit based on prevailing conditions. RBI

1.1.2. Monetary Penalties

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