{"id":63121,"date":"2020-10-12T18:54:56","date_gmt":"2020-10-12T13:24:56","guid":{"rendered":"https:\/\/www.oliveboard.in\/blog\/?p=63121"},"modified":"2020-10-15T11:11:58","modified_gmt":"2020-10-15T05:41:58","slug":"ways-and-means-advances","status":"publish","type":"post","link":"https:\/\/www.oliveboard.in\/blog\/ways-and-means-advances\/","title":{"rendered":"What are Ways and Means Advances? Know About it All Here."},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_77 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of content<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.oliveboard.in\/blog\/ways-and-means-advances\/#What_are_Ways_and_Means_Advances\" >What are Ways and Means Advances?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.oliveboard.in\/blog\/ways-and-means-advances\/#RBI_Grade_B_2020_Online_Course\" >RBI Grade B 2020 Online Course\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.oliveboard.in\/blog\/ways-and-means-advances\/#SEBI_Grade_A_Online_Course\" >SEBI Grade A Online Course<\/a><\/li><\/ul><\/nav><\/div>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">You must have heard about the <strong>Ways and Means Advances<\/strong> if you are regularly following Economy and Finance news. You surely must have wondered about what are these and who advances them and to whom. in this blog post, let us know all about the ins &amp; outs of <strong>Ways and Means Advances <\/strong>and understand everything about them.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_are_Ways_and_Means_Advances\"><\/span><span style=\"color: #000000;\"><strong>What are Ways and Means Advances? <\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3 style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong>Ways and Means Advances:<\/strong>\u00a0<\/span><\/h3>\n<ul style=\"text-align: justify;\">\n<li><span style=\"color: #000000;\">It is a scheme that helps meet mismatches in receipts and payments of the government. Under this scheme government can avail itself of immediate cash from RBI.<\/span><\/li>\n<li><span style=\"color: #000000;\">The Reserve Bank of India (RBI) gives temporary loan facilities to the central and state governments. This loan facility is called Ways and Means Advances (WMA).<\/span><\/li>\n<li><span style=\"color: #000000;\">The Ways and Means Advances scheme was introduced in 1997.<\/span><\/li>\n<li><span style=\"color: #000000;\">The government can avail immediate cash from the RBI if required. But it has to return the amount within 90 days. Interest is charged at the existing repo rate.<\/span><\/li>\n<li><span style=\"color: #000000;\">If the WMA exceeds 90 days, it would be treated as an overdraft, which is not allowed beyond 10 consecutive working days (interest rate on overdrafts is 2 percentage points more than the repo rate).<\/span><\/li>\n<\/ul>\n<h3 style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong>WMA Scheme for State Governments<\/strong><\/span><\/h3>\n<ul style=\"text-align: justify;\">\n<li><span style=\"color: #000000;\">Under Section 17(5) of the RBI Act, 1934, the RBI provides Ways and Means Advances (WMA) to the States banking with it to help them to tide over temporary mismatches in the cash flow of their receipts and payments.<\/span><\/li>\n<li><span style=\"color: #000000;\">Under the WMA scheme for the State Governments, there are two types of<\/span><\/li>\n<\/ul>\n<ol>\n<li><span style=\"color: #000000;\">WMA \u2013 Special<\/span><\/li>\n<li><span style=\"color: #000000;\">Normal WMA.<\/span><\/li>\n<\/ol>\n<ul style=\"text-align: justify;\">\n<li><span style=\"color: #000000;\"><strong>Special WMA<\/strong> is extended against the collateral (mortgaging) of the government securities held by the State Government.<\/span><\/li>\n<li><span style=\"color: #000000;\">After the exhaustion of the special WMA limit, the State Government is provided a <strong>normal WMA<\/strong>. The normal WMA limits are based on a three-year average of actual revenue and capital expenditure of the state. The withdrawal above the WMA limit is considered an overdraft.<\/span><\/li>\n<li><span style=\"color: #000000;\">A State Government account can be in overdraft for a maximum of 14 consecutive working days with a limit of 36 days in a quarter.<\/span><\/li>\n<li><span style=\"color: #000000;\">The rate of interest in WMA is linked to the Repo Rate. Surplus balances of State Governments are invested in Government of India 14-day Intermediate Treasury bills in accordance with the instructions of the State Governments.<\/span><\/li>\n<\/ul>\n<h3 style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong>Latest Changes in Ways &amp; Means Advances<\/strong><\/span><\/h3>\n<ul style=\"text-align: justify;\">\n<li><span style=\"color: #000000;\">The Reserve Bank of India (RBI), in consultation with the Government of India, has revised the limit for Ways and Means Advances (WMA) for the remaining part of the first half of FY21 (April 2020 to September 2020) to\u00a0\u20b92-lakh crore.<\/span><\/li>\n<li><span style=\"color: #000000;\">On March 31, the WMA limit for the first half of FY21 (April 2020 to September 2020) was upped to \u20b91.20-lakh crore against \u20b975,000 crores in the year-ago period.<\/span><\/li>\n<li><span style=\"color: #000000;\">The Reserve Bank of India (RBI) announced a 60% increase in the Ways and Means Advances (WMA) limit of state governments over and above the level as on March 31, with a view to enabling them \u201cto undertake COVID-19 containment and mitigation efforts\u201d and \u201cto better plan their market borrowings.<\/span><\/li>\n<li><span style=\"color: #000000;\">For the states, the aggregate WMA limit was Rs 32,225 crore till March 31, 2020. On April 1, the RBI announced a 30% hike in this limit, which has now been enhanced to 60%, taking it to Rs 51,560 crore. The higher limit will be valid until September 30. The central bank, on April 7, also extended the period for which a state can be in overdraft from 14 to 21 consecutive working days, and from 36 to 50 working days during a quarter.<\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong>Source: Business Standard, Financial Express and Indian Express<\/strong><\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"color: #3366ff;\"><a style=\"color: #3366ff;\" href=\"https:\/\/www.oliveboard.in\/rbi-grade-b\/?ref=Rbihny&amp;next=https:\/\/mocks.oliveboard.in\/banking\/rbimonlessons.php\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>Get RBI Grade B Current Affairs Here<\/strong><\/a><\/span><\/p>\n<hr \/>\n<p><span style=\"color: #000000;\">We hope that now the term ways and means advances is well understood to you. Keep visiting Olivbeoard for more such informative content.\u00a0<\/span><\/p>\n<p><span style=\"color: #000000;\">Meanwhile, if you are someone who is preparing for exams like RBI Grade B or SEBI Grade A, then you have come to the right place. Oliveboard offers comprehensive online courses for both RBI Grade B &amp; SEBI Grade A exams. Have a look at the offerings of these courses below.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"RBI_Grade_B_2020_Online_Course\"><\/span><span id=\"RBI_Grade_B_2020_Online_Course\"><span id=\"RBI_Grade_B_2020_Online_Course_by_Oliveboard\"><strong>RBI Grade B 2020 Online Course\u00a0<\/strong><\/span><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\"><strong>Oliveboard has come up with RBI Grade B Online Cracker Course<\/strong>\u00a0for\u00a0<strong>RBI Grade B 2020<\/strong>\u00a0Exam. Oliveboard\u2019s\u00a0<span style=\"color: #3366ff;\"><a style=\"color: #3366ff;\" href=\"https:\/\/www.oliveboard.in\/rbi-grade-b\/?ref=Rbiblog\" target=\"_blank\" rel=\"noopener noreferrer\"><em><strong>RBI Grade B Online Course 2020<\/strong><\/em><\/a><\/span>\u00a0will be your one-stop destination for all your preparation needs<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">What all the course offers you:<\/span><\/p>\n<h3 style=\"text-align: justify;\"><span id=\"Course_Details\" style=\"color: #000000;\"><span id=\"1_Course_Details\"><strong>Course Details<\/strong><\/span><\/span><\/h3>\n<p style=\"text-align: justify;\"><span style=\"color: #000000;\">RBI Grade B Cracker is designed to cover the complete syllabus for the 3 most important subjects:\u00a0<strong>GA for Phase 1 and ESI + F&amp;M for Phase 2 exam.<\/strong>\u00a0Not just that, it\u00a0also includes\u00a0<strong><span style=\"color: #3366ff;\"><a style=\"color: #3366ff;\" href=\"https:\/\/www.oliveboard.in\/rbi-grade-b\/?ref=Rbiblog\" target=\"_blank\" rel=\"noopener noreferrer\"><em>Mock Tests<\/em><\/a><\/span>\u00a0&amp; Live Strategy Sessions<\/strong>\u00a0for\u00a0<strong>English, Quant &amp; Reasoning\u00a0<\/strong>for Phase 1. The course aims to complete your preparation in time for the release of the official notification.<\/span><br \/>\n<u><\/u><\/p>\n<h3><span id=\"Features\" style=\"color: #000000;\"><span id=\"11_Features\"><strong>Features<\/strong><\/span><\/span><\/h3>\n<p><a href=\"https:\/\/www.oliveboard.in\/rbi-grade-b\/?ref=Rbiblog\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-61711\" src=\"https:\/\/www.oliveboard.in\/blog\/wp-content\/uploads\/2020\/09\/unnamed-1.png\" alt=\"RBI Grade B 2020 Online Course\" width=\"497\" height=\"621\" \/><\/a><\/p>\n<p style=\"text-align: center;\"><a href=\"https:\/\/www.oliveboard.in\/rbi-grade-b\/?ref=Rbiblog\" target=\"_blank\" rel=\"noopener noreferrer\"><strong><span style=\"color: #3366ff;\">Use Coupon Code \u2018MY20\u2019 to avail 20% discount on RBI Courses!<\/span><\/strong><\/a><\/p>\n<hr \/>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"SEBI_Grade_A_Online_Course\"><\/span><span id=\"SEBI_Grade_A_Online_Course\"><strong>SEBI Grade A Online Course<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\"><span id=\"For_your_Complete_Phase_1_and_Phase_2_Preparations\"><strong><em>For your Complete Phase 1 and Phase 2 Preparations<\/em><\/strong><\/span><\/p>\n<p style=\"text-align: justify;\">SEBI Grade A Cracker is a course designed to cover all the subjects under Phase I and Phase II exams.<\/p>\n<ul style=\"text-align: justify;\">\n<li>For Paper 1 of Phase I exam all essential subjects like Quantitative Aptitude, Reasoning, and English will be covered through video lectures.<\/li>\n<li>For Paper 2 of both Phase 1 and Phase 2, the complete syllabus will be covered through video lessons, and notes.<\/li>\n<li>The course will also have strategy sessions and past year paper discussions.<\/li>\n<li>This course has been designed in such a way that it can be covered well before the examination.<\/li>\n<\/ul>\n<p style=\"text-align: center;\"><span style=\"color: #3366ff;\"><strong><a style=\"color: #3366ff;\" href=\"https:\/\/www.oliveboard.in\/sebi\/?ref=sebiblog\" target=\"_blank\" rel=\"noopener noreferrer\">Enroll for SEBI Grade A 2020 Online Course Here<\/a><\/strong><\/span><\/p>\n<h3 style=\"text-align: justify;\"><span id=\"Course_Features\"><span id=\"1_Course_Features\"><strong>Course Features<\/strong><\/span><\/span><\/h3>\n<p><a href=\"https:\/\/www.oliveboard.in\/sebi\/?ref=sebiblog\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-62572 aligncenter\" src=\"https:\/\/www.oliveboard.in\/blog\/wp-content\/uploads\/2020\/09\/daily-crtv-1.png\" alt=\"\" width=\"500\" height=\"538\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>You must have heard about the Ways and Means Advances if you are regularly following Economy and Finance news. You<\/p>\n","protected":false},"author":50,"featured_media":63141,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,2586,10237,10226,320,10247,8661],"tags":[],"class_list":["post-63121","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-articles","category-notes","category-preparation-resources","category-rbi","category-rbi-grade-b","category-rbi-sebi-nabard","category-sebi-prep","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-50"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.6 (Yoast SEO v26.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What are Ways and Means Advances? | RBI &amp; SEBI | Oliveboard<\/title>\n<meta name=\"description\" content=\"Know all about the Ways and Means Advances provided by RBI to central &amp; state govt. in need. 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I'm a dedicated Government Job aspirant turned passionate writer &amp; content marketer. My blogs are a one-stop destination for accurate and comprehensive information on exam categories like Regulatory Bodies, Banking, SSC, State PSCs, and more. I am on a mission to provide you with all the details you need, conveniently in one place. When I am not writing and marketing, you will find me happily experimenting in the kitchen, cooking up delightful treats. Join me on this journey of knowledge and flavors!\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"What are Ways and Means Advances? | RBI & SEBI | Oliveboard","description":"Know all about the Ways and Means Advances provided by RBI to central & state govt. in need. 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