Section 21(4) in The Deposit Insurance And Credit Guarantee Corporation Act, 1961
(4)In case of any delay in repayment to the Corporation beyond the time period prescribed under sub-section (2) or extended under sub-section (3), the Corporation may charge penal interest at a maximum rate of two per cent. above the repo rate per annum for the amount to be repaid to the Corporation and such penal interest shall rank equally for priority with the amount to be repaid under sub-section (2)."[CHAPTER III-A Credit Guarantee Functions
