The accounting year of the Reserve Bank of India is

examrobotsa's picture

Submitted by examrobotsa on

Q: 87 (IAS/1998)
The accounting year of the Reserve Bank of India is

question_subject: 

Economics

question_exam: 

IAS

stats: 

0,55,161,134,55,9,18

keywords: 

{'accounting year': [0, 1, 0, 0], 'reserve bank': [1, 0, 3, 4], 'december': [5, 1, 4, 11], 'january': [5, 3, 1, 7], 'september': [6, 1, 6, 7], 'march': [10, 2, 7, 13], 'july': [4, 1, 2, 8], 'april': [6, 1, 2, 5], 'october': [8, 1, 2, 6], 'june': [8, 1, 4, 8], 'india': [8, 1, 7, 13]}

The Reserve Bank of India (RBI) follows an accounting year that starts in July and ends in June. So the correct option is option 2 - July to June.

Option 1 suggests that the accounting year goes from April to March, which is the financial year followed by the Government of India and many businesses in India, but not by the RBI.

Option 3 suggests an accounting year from October to September. This is not commonly followed by many major financial entities in India.

Option 4 suggests an accounting year of January to December, which is the calendar year and is the norm in many western countries but again, not the pattern followed by the RBI.

Thus, each option suggests a different accounting period, but the Reserve Bank of India follows the July-June pattern, making option 2 the correct one.

Practice this on app