Reserve Bank of India re-draws its financial year
Posted on: 24/Mar/2020 11:55:02 AM
Generally, the financial year or the fiscal year as it is called is from 1st April to 31st March as practiced in most countries around the world.
However, with the raging coronavirus pandemic, the countries have been constrained on this front as activities have almost been forced to a standstill!
As such, the current financial year (2019-20) or Fiscal 2019-20 will end on June 30, 2020.
The fiscal year 2020-21 will begin on July 1, 2020, but ends on March 31, 2021.
The Reserve Bank of India (RBI) has decided to align its financial year with the Government.
