The Reserve Bank of India (RBI) has raised the ways and means (WMA) advances limit for states by 18.8 per cent from Rs 6,035 crore to Rs 7,170 crore from March 3.
The revised scheme, valid through the next fiscal, has been made effective from March to provide benefits of higher limits in the last month of the current fiscal to the states, the RBI said on Monday. The scheme has been revised in keeping with Ramachandran Committee