BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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January-December
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April-March
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July-June
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October-September
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Detailed explanation-1: -The accounting year for the Reserve Bank of India was changed to April-March (earlier July-June) from the financial year 2020-21 onwards. Where available, this chapter has been updated beyond March 2022.
Detailed explanation-2: -Thus, data presented in the Chapter for the current year, i.e., 2021-22 and earlier years (July to June) are for twelve months as compared to the nine months period for the previous year (July 2020 to March 2021).
Detailed explanation-3: -Detailed Solution. The current RBI’s accounting year runs from July to June while the government follows the April-March fiscal year.
Detailed explanation-4: -“…the primary objective of monetary policy is to maintain price stability while keeping in mind the objective of growth.” The meeting schedule of the Monetary Policy Committee (MPC) for 2022-2023 was announced in the Reserve Bank’s Press Release: 2021-2022/1931 dated March 30, 2022.