GS PrelimsEconomyRBI Functions1998

The accounting year of the Reserve Bank of India is

April-March

July-June

October-September

January-December

Correct Answer: Option B

Explanation

1. The accounting year of the Reserve Bank of India (RBI) determines its financial reporting cycle. 2. Historically, the RBI's accounting year was from July to June. 3. Although the Bimal Jalan committee recommended changing it to align with the government's fiscal year (April-March), and this change was implemented from the accounting year 2020-21, for the period when this question was asked (1998), the accounting year was July-June.

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