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[Cites 0, Cited by 0] [Section 47(1)] [Section 47] [Entire Act]

Union of India - Subsection

Section 47(1)(a) in The Banking Regulation Act, 1949

(a)[ where the contravention or default is of the nature referred to in sub-section (2) of section 46, a penalty not exceeding twenty lakh rupees in respect of each offence and if the contravention or default persists, a further penalty not exceeding fifty thousand rupees for everyday, after the first day, during which the contravention or default continues; [Substituted by Act No. 4 OF 2013]