Question Bank - Banking & Financial Services

Here's the question bank on all the banking & financial services topics.

The accounting year of Reserve Bank of India is ______.

A.
April - March
B.
July - June
C.
October - September
D.
January - December

Solution:

The correct answer is July-JuneThe current RBIs 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.

For more questions,

Click Here

Download Gyanm App

free current affairs for competitive exams

Scan QR code to download our App for
more exam-oriented questions

free current affairs for competitive exams

OR
To get link to download app

Thank you! Your submission has been received. You will get the pdf soon. Call us if you have any question: 9117343434
Oops! Something went wrong while submitting the form.