{"id":86500,"date":"2020-04-01T12:07:20","date_gmt":"2020-04-01T06:37:20","guid":{"rendered":"http:\/\/factly.forumias.com\/?p=14654"},"modified":"2020-04-01T12:07:20","modified_gmt":"2020-04-01T06:37:20","slug":"ways-and-means-advances","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/ways-and-means-advances\/","title":{"rendered":"Ways and Means Advances"},"content":{"rendered":"\n<p><strong>News:<\/strong>The government has increased the limit on Ways and Means Advance (WMA) by 60% to support the cash flow mismatch expected from higher spending to combat the spread of COVID-19.<\/p>\n\n\n\n<p><strong>Facts:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Ways and Means Advances(WMA) Scheme was introduced in 1997.<\/li><li><strong>Purpose: <\/strong>These are temporary loan facilities provided by the Reserve Bank of India(RBI) to the central and state governments to meet mismatches in the receipts and payments.<\/li><li><strong>Interest Rate:<\/strong>It is currently at the existing repo rate and the tenure is for three months.However, if the tenure is extended,it will be treated as an overdraft which is charged above repo rate.<\/li><li><strong>Limits for WMA:<\/strong>They are decided by the government and RBI mutually and revised periodically.<\/li><li><strong>Types of WMA: a) <\/strong>Special WMA: It is extended against the collateral of the government securities held by the State Government and <strong>b) <\/strong>Normal WMA: It is based on a three-year average of actual revenue and capital expenditure of the state.It is not collateral based.<\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>News:The government has increased the limit on Ways and Means Advance (WMA) by 60% to support the cash flow mismatch expected from higher spending to combat the spread of COVID-19. Facts: Ways and Means Advances(WMA) Scheme was introduced in 1997. Purpose: These are temporary loan facilities provided by the Reserve Bank of India(RBI) to the&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/ways-and-means-advances\/\">Continue reading <span class=\"screen-reader-text\">Ways and Means Advances<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3127],"tags":[3329],"class_list":["post-86500","post","type-post","status-publish","format-standard","hentry","category-economy","tag-ways-and-means-advances","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1700591841},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/86500","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=86500"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/86500\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=86500"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=86500"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=86500"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}