What is the accounting year of the Reserve Bank of India ?

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Question

What is the accounting year of the Reserve Bank of India ?

Options:

A . July-June

B . April-March

C . October-September

D . January-December

Answer: Option A
Answer: (a)
The Reserve Bank’s accounting year is July to June. After its establishment on 1 April 1935, the RBI changed its accounting year from January-December to July-June on 11 March 1940.
Normally, RBI remains closed for public transactions every July 1 on account of its annual closing of accounts.

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