(2)[ For the purpose of adjudging the penalty under sub-section (1), the Reserve Bank shall serve notice on the banking company requiring it to show cause why the amount specified in the notice should not be imposed and a reasonable opportunity of being heard shall also be given to such banking company.] [Substituted by Act 20 of 1994, Section 10, for sub-Ss. (2) and (3) (w.e.f. 31.1.1994).][* * *] [Sub-Section (3) omitted by Act 20 of 1994, Section 10 (w.e.f. 31.1.1994).]
