- The board of Reserve Bank of India (RBI) decked to sync the Financial year of the bank with the Fiscal Year. The Fiscal Year begins in April and ends in March and the Financial year is between July and June
- The Central Board of Directors of RBI at the 582’d meeting recommended aligning of Fiscal and financial years. The alignment would change 8-decade practice of RBI.
- The alignment was recommended by an expert committee led by Bimal Jalan.