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The Hindu
The Hindu
National
Sanjay Vijayakumar

State has not utilised short-term funding facilities from RBI

RBI Tamil Nadu Reserve Bank of India States

Tamil Nadu has not availed itself of short-term borrowing facilities from the Reserve Bank of India (RBI) from the 2016 fiscal till date. According to experts, it is an indication that the State has adequate liquidity.

The Reserve Bank of India provides financial assistance to States in the form of Ways and Means Advances (WMA). This helps States overcome temporary mismatches in cash flow of their receipts and payments. The RBI fixes WMA limits for each State. In addition, States could utilise the Special Drawing Facility (SDF) by providing government securities as collateral.

If a State exceeds its WMA and SDF limits, it could also avail itself of the overdraft (OD) facility from the RBI.

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