The Reserve Bank of India (RBI) has constituted an advisory committee to examine the existing scheme of ways and means advances (WMA) and the overdraft regulation scheme of state governments.
As per the terms of reference, the committee will consider rationalisation, if warranted, revision of limits, keeping in view the needs of state governments as also the issues relating to fiscal and monetary management.
It will also examine the scheme of special WMA limits of state governments and other aspects related to their cash management as may be deemed necessary with particular reference to the states
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