June 30, 2017 / 12:37 PM / 2 months ago

BRIEF-RBI says WMA limit for Q2 will be at 700 bln rupees

June 30 (Reuters) - Reserve Bank of India:

* RBI - limit for ways and means advances for Q2 of the financial year 2017-18 will be at INR 700 billion

* RBI - may trigger fresh floatation of market loans when the government of India utilises 75 per cent of the WMA limit

* RBI - interest rate on WMA will be repo rate and on overdraft will be two percent above the repo rate

* RBI - minimum balance required to be maintained by government with RBI will not be less than 1 billion rupees on Fridays

* RBI - minimum balance required to be maintained by government with RBI will not less than INR 100 million on other days

* RBI - WMA limit for the second half of the financial year 2017-18 will be fixed in September 2017 Source text: (bit.ly/2urgdSp)

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