RBI has decided to change the bank's financial year to April-March. The central bank was following which term for financial year till now?
A. Jan to December
B. July to June
C. June to May
D. Sept to Aug
Answer:B
RBI has decided to change the bank's financial year to April-March. The central bank was following which term for financial year till now?
A. Jan to December B. July to June C. June to May D. Sept to Aug
Explanation: The RBI has followed a July-June financial year since 1940, when it moved away from a January-December year. RBI will start following April-March financial year after a nine-month year ending 31 March 2021.