Govt dispels rumours about change in RBI’s financial year

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Govt dispels rumours about change in RBI’s financial year

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NEW DELHI: The central government’s Press Information Bureau has asked people to steer clear of rumours on changes in Reserve Bank of India’s financial year. In a tweet, PIB said: “The recommendation by RBI of resetting its financial year (currently July – June) in alignment with Govt’s financial year (Apr-Mar) has got nothing to do with Coronavirus.”

“This is an old recommendation and has nothing to do with corona outbreak. Request you to steer clear of rumours and misleading information,” PIB tweeted.

PIB also shared a weblink of RBI board’s February 15 decision where the board had “recommended aligning the financial year of RBI, currently July-June, with the Government’s fiscal year (April-March) from the year 2020-21 and approved forwarding a proposal to the Government for its consideration.”

Source- Livemint.