The accounting year of the Reserve Bank of India is:
✓ Correct answer: b) July-June
ExplanationAs of 1998, the Reserve Bank of India (RBI) operated on an accounting year spanning from July to June.This system had been in place since March 11, 1940, when the RBI transitioned its accounting period from January–December to July–June.However, in 2020, the RBI decided to align its accounting year with the Government of India’s fiscal year, which runs from April to March.This change was implemented to enhance the effectiveness of monetary policy and fiscal operations.Consequently, the accounting year 2020–21 was a transitional period of nine months, from July 2020 to March 2021. Subsequently, from April 2021 onwards, the RBI adopted the April–March accounting cycle 211
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