Question

Ways and Means Advances (WMA) were introduced in:

• A. 1990
• B. 1995
• C. 1997
• D. 2000

Answer 1

Answer:

C. 1997

WMA were introduced by the RBI to provide temporary financial assistance to the Central and State Governments. They replaced the earlier system of ad hoc Treasury Bills and help governments manage short-term mismatches in receipts and payments.