Section 58G(1)(b) in The Reserve Bank of India Act, 1934

[Cites 0, Cited by 1] [Section 58G(1)] [Section 58G] [Entire Act]

Union of India - Subsection

Section 58G(1)(b) in The Reserve Bank of India Act, 1934

(b)where the contravention or default is under sub-section (4A) or clause (a) or clause (aa) of sub-section (5) of section 58B, a penalty of five lakh rupees or twice the amount involved in such contravention or default, where the amount is quantifiable, whichever is more; and where such contravention or default is a continuing one, further penalty which may extend to twenty-five thousand rupees for every day, after the first, during which the contravention or default continues.

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Union of India - Subsection

Section 58G(1)(b) in The Reserve Bank of India Act, 1934