Whither Wma

Earlier, RBI used to provide information on the outstanding level of ad hocs at regular intervals. The fact that WMA figures have not been published can mean one of two things: either the WMA has not yet been utilised, or the numbers are confidential.

The RBI does not publish the corresponding figures in case of the state governments.

The WMA figures are important because the moment the Centre avails 75 per cent of the limit it will trigger fresh borrowing.

This could be one reason why the WMA figures could be kept confidential. While one respects the client-banker relationship, it is hoped that the WMA figures are available at least with a lag for one has a right to know if the profligate centre is mending its ways.