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BRIEF-RBI says WMA limit for April-Sept 2017 will be at 600 bln rupees
March 30, 2017 / 12:11 PM / 8 months ago

BRIEF-RBI says WMA limit for April-Sept 2017 will be at 600 bln rupees

March 30 (Reuters) - Reserve Bank of India:

* RBI - WMA limit for government of India for April 2017 to September 2017

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

* RBI - Limit for ways and means advances (WMA) for the first half of the financial year 2017-18 (April 2017 - September 2017) will be at INR 600 billion

* RBI - the interest rate on WMA/overdraft will be WMA: repo rate; overdraft: two percent above the repo rate

* RBI - the WMA limit for the second half of the financial year 2017-18 will be fixed in september 2017.

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

* RBI - overdrafts beyond ten consecutive working days will not be allowed

* RBI - minimum balance to be maintained by India government with RBI will not be less than INR 1 billion on date of closure of government's FY and on June 30 Source text: bit.ly/2nyZmet

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