BANK NEWS
RBI Extends the Relaxation in WMA limits and OD regulations
New Delhi:
Earlier on April 17, 2020, the central bank had increased the borrowing limit for the same to help them overcome the lockdown-related extraordinary mismatch between revenue and expenditure flows. This extended by another six months to 31 March 2021.
Further, in order to provide flexibility to State Governments to tide over their cash flow mismatches, the overdraft (OD) regulations were relaxed, with effect from April 7, 2020, wherein it was decided to increase the number of days for which a State and UT can be in overdraft continuously to 21 working days from 14 working days and the number of days for which a State and UT can be in overdraft in a quarter to 50 working days from 36 working days.
Both the above relaxations are currently till September 30, 2020.
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