Banking act.
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 June 2013
Dear sir/madam
Please explain meaning of "second fourthnight" from friday in banking act relating with cash reserve ratio maintain.
Please explain meaning of "second fourthnight" from friday in banking act relating with cash reserve ratio maintain.
Ajay Mishra
(Expert)
18 June 2013
Hi
A fortnight is 2 weeks or 14 days. The week start from Monday in business terms and end on Friday. Therefore,second fortnight is from the 15th to the 28th of that month.
A fortnight is 2 weeks or 14 days. The week start from Monday in business terms and end on Friday. Therefore,second fortnight is from the 15th to the 28th of that month.
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