RBI Flashcards
1
Q
What is ways and means advances
A
Intended for mismatch of receipt and payments
Both centre and state can borrow from RBI
2
Q
Is it a source of finance and what section in RBI
A
No it's not a source of finance Section 17(5) RBI act 1934
3
Q
Tenure of repayment
A
Not more than 3 months
4
Q
What is the interest rate
A
Repo rate
For advances more than limit, two percent more
5
Q
Wma limits for centre
A
120000 in Apr to sep 2020-21
75000 last year
60 percent increase
Second half 2020-21
125000
35000 last year
6
Q
Wma limit for States
A
First half
32225 in 2020-21
51560 in 2019-20
60 percent increase
7
Q
Overdraft days for states
A
14 to 21 consecutive working days
36 to 51 working days in a quarter
