RBI to adopt April-March financial year after 80 years

The Reserve Bank of India's central board, in its meeting held today, decided to change the central bank's financial year to April-March, aligning it with the government's. 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 March 31, 2021.