The Reserve Bank of India, in consultation with the Government of India has decided that the limits for Ways and Means Advances (WMA) for the second half of the financial year 2019-20 (October 2019 to March 2020) will be ₹ 35,000 crore. 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 Reserve Bank may trigger fresh floatation of market loans when the Government of India utilises 75 per cent of the WMA limit. The interest rate on WMA will be Repo Rate and overdraft will be 2% above the Repo Rate.
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