RBI posts report on state WMA committee
In short
The RBI put up a report from its committee on Ways and Means Advances for state governments.
The committee, led by Shri I S N Prasad, reviewed state-wise borrowing limits and other help for states. The RBI said it will look at the recommendations, but no change was announced yet.
What the reporting says
The Reserve Bank of India placed the report of its Advisory Committee on Ways and Means Advances to State Governments on its website. The RBI said the committee, chaired by Shri I S N Prasad, reviewed state-wise WMA limits and other financial accommodation facilities for states. The report contains recommendations that the RBI said it will examine, but no decisions or changes to limits were announced in the press release.
Why it matters
The Reserve Bank of India has published the report of its Advisory Committee on Ways and Means Advances for State Governments. The committee, chaired by Shri I S N Prasad, reviewed state-wise WMA limits and related financial accommodation facilities. The RBI said the recommendations will be examined, so the immediate result is a policy review rather than a new borrowing rule or funding change.