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Neha Sinha

· started a discussion

· 1 Months ago

Accounting year of bank (Question:1086045.0)

What is the accounting year of general bank and RBI?

Question:

What is the accounting year of the reserve bank of India?

Options:
A)

July-June

B)

Jan-Dec

C)

April-March

D)

Oct-Sept

Solution:

Ans: (c)

The banks in India follow April to March financial year and hence their annual financial information is compiled after that. RBI follows July to June financial year because RBI as a supervisor and regulator looks into the books of banks and then analyses and prepares its statutory document called as Annual Report.

Knowledge Expert

· commented

· 1 Months ago

Dear student,
RBI and all general banks follow april to march as a accounting year.keep learning.

Regards
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