WMA Full Form

WMA Full Form

WMA  :- Ways and Means Advances

WMA Meaning 

Definition	:	Ways and Means Advances
Category	:	Governmental » Rules & Regulations
Country/Region	:	India

WMA Full Form 

WMA Full Form is Ways and Means Advances. 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 RBI).  WMA scheme start On  26 March 1997. 

                                 The government can avail of 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. If the WMA exceeds 90 days, it would be treated as an overdraft (interest rate on overdrafts is 2 percentage points more than the repo rate).

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