Change set
Pick exam & year, then Go.
Question map
The accounting year of the Reserve Bank of India is
Explanation
The Reserve Bank of India’s traditional accounting year runs from July 1 to June 30, i.e., the July–June financial year, which has been in effect for decades and is the basis for RBI’s annual closing and many operational schedules [1]. In recent years the RBI board recommended aligning its accounts with the government’s April–March fiscal year; a transitional nine‑month accounting period (July 2020–March 2021) was proposed with subsequent years to run April–March, but the longstanding and commonly referenced accounting year remains July–June for the period under consideration in standard MCQs [2].
Sources
- [1] https://www.thehindu.com/business/Economy/rbi-to-remain-open-on-july-1-to-facilitate-public-transactions/article6155238.ece
- [2] https://indianexpress.com/article/business/banking-and-finance/rbi-changes-accounting-year-interim-dividends-may-stop-6270222/
SIMILAR QUESTIONS
4 Cross-Linked PYQs
UPSC repeats concepts across years. Login to see how this question connects to 4 others.
Login with Google