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Banking Sample Paper SBI Clerk Grade (Main) Sample Test Paper-1

  • question_answer
    The RBI makes WMA loans to the state governments for a period of 90 days. What does 'A' stand for in WMA?

    A)  Advance                      

    B)  Absolute

    C)  Ad valorem                  

    D)  Asset

    E)  Alternate

    Correct Answer: A

    Solution :

     WMA stands for Ways and Means Advances. Under Section 17 of RBI Act, 1934, the RBI provides Ways and Means Advances (WMA) to the States banking with it to help them to tide over temporary mismatches in the cash flow of their receipts and payments.


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