..............Malegam committee also said that since RBI is not a commercial organization and its primary objective is not to earn profits, the nomenclature ‘Profit & Loss Account’ tends to be a misnomer and therefore it should be replaced with the nomenclature ‘Income Statement’. Also it said that even this statement should be a single statement as it is done currently. Committee also recommended that since interest income is the main source of income for RBI, under the income head only interest income should be mentioned and all other income should be shown in head— others...............
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