 "More steps in the offing for timely fraud detection in banks: RBI")
The Bimal Jalan-led committee, whose report was put out by the Reserve Bank of India (RBI) on Tuesday, has recommended that the central bank move its accounting year to April-March from the present July-June from fiscal year 2020-21. It has also advised the RBI to give out interim dividend only in “extraordinary” situations.
The central board of the RBI, which met on Monday, has accepted this recommendation, according to an official.
“Historically, the July-June year would have been linked to the agricultural seasons which is not a consideration in these times,” the Jalan committee reviewing RBI’s economic capital framework noted in its
