ENA Economy 2020-04-07 11:13:30 <p><strong>Mumbai, Apr 7 (KNN)</strong> The Reserve Bank of India (RBI) today relaxed norms for state governments to avail overdraft facilities for a longer period until September 30 as they are facing cashflow mismatches amid coronavirus outbreak.</p> <p>The RBI said on a circular that it has permitted greater space to state governments/ Union Territories for availing overdraft facilities.</p> <p>In order to provide greater flexibility to the state governments to tide over their cashflow mismatches, the RBI has increased the number of days for which a state can be in overdraft.</p> <p>The number of days for which a State/ UT can be in overdraft continuously has been increased to 21 working days from the current stipulation of 14 working days.</p> <p>Similarly, the number of days for which a State/ UT can be in overdraft in a quarter has been increased to 50 working days from the current 36 working days.</p> <p>All other stipulations remain unchanged. The new arrangement will come into force with immediate effect and will remain valid till September 30, 2020, the circular added.</p> <p><iframe frameborder="0" height="500" id="mgiframe" src="//mg.mgid.com/mghtml/framehtml/c/k/n/knnindia.co.in.338951.html" width="100%"></iframe></p> 24826 https://knnindia.co.in/news/newsdetails/economy/rbi-relaxes-overdraft-facility-norms-for-states-uts 2020-04-07 11:13:30 knnindia.co.in