New Delhi: The Financial Year of the Reserve Bank of India and the Central Government can be similar. The central government’s financial year starts from April 1 and ends on March 31 while the RBI’s financial year starts from July 1 and ends on June 30. In such a situation, the RBI board has also recommended the RBI to start the financial year from April 1. A proposal will be sent to the central government to get approval in this regard.
According to media reports, according to an RBI official, these changes can be implemented with the financial year 2020-21. Apart from this, the Vimal Jalan Committee also recommended that the RBI should be similar to the financial year of the government.
During the press conference in Delhi in the presence of Finance Minister Nirmala Sitharaman, RBI Governor Shaktikanta Das said that it is still being considered. You will come to know about it soon.
It is worth mentioning that the Central Board of Directors of RBI in its 582nd meeting reviewed the current economic conditions, global and domestic challenges and many aspects related to the operation of RBI.
Finance Minister Nirmala Sitharaman, Minister of State for Finance Anurag Singh Thakur, Finance Secretary Rajeev Kumar and Expenditure Secretary TV Somanathan, among other senior officials attended the RBI board meeting.
