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The accounting year of Reserve Bank of India is ______.
1. April - March
2. July - June
3. October - September
4. January - December

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Correct Answer - Option 2 : July - June

The correct answer is July-June

  • The current RBI’s accounting year runs from July to June while the government follows the April-March fiscal year.

  • The Reserve Bank of India (RBI) has planned to align its financial year with the centre.
  • The Central Board of Directors of the RBI recommended to align the accounting year of RBI with the financial year of the government (April-March), from 2020-21.
  • The preamble of RBI is to regulate the issue of Bank notes and keeping of reserves with a view to securing monetary stability in India and generally to operate the currency and credit system of the country to its advantage; to have a modern monetary policy framework to meet the challenge of an increasingly complex economy, to maintain price stability while keeping in mind the objective of growth.
  • The Reserve Bank's affairs are governed by a central board of directors.
  • The board is appointed by the Government of India in keeping with the Reserve Bank of India Act.

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