RBI Board recommends aligning of accounting year with fiscal year from 2020-21

The current accounting year of the Reserve Bank of India (RBI) is July-June. Recently, 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 RBI board announced this proposal at its 582nd meeting and approved to forward the proposal to the government for receiving its consideration. Union Finance Minister Nirmala Sitharaman addressed the meeting.