Ways and means advances (WMA) are temporary liquidity line given by the central bank to the government to meet short-term expenditure needs of the government
Acceptance of LUT for supplies of goods or services to countries outside India will be permissible irrespective of whether the payments are made in Indian currency or convertible foreign exchange
However, the perception of risks on various fronts like domestic growth, fiscal, corporate sector and banks' asset quality increased between April and October 2019, it said
PNB chairman Sunil Mehta, who conceptualised the inter-creditor agreement adopted by RBI, says the central bank's new circular on resolving stressed assets is practical.
The central banks said lenders shall recognise incipient stress in loan accounts, immediately on default, by classifying such assets as special mention accounts (SMA)