India central bank raises advances limit for states after taking on Delhi banking operations

India’s central bank said on Friday it has raised the temporary advances it offers to states and union territories, after taking on the banking operations of the Delhi territory’s government.

The Reserve Bank of India set the ways and means advances limit for the Government of National Capital Territory of Delhi at 8.9 billion rupees ($98.7 million).

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As a result, the advances limit for all states and union territories in the country has been raised to 610.08 billion rupees from 601.18 billion rupees, RBI said.