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

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

Union of India - Subsection

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

(c)where the contravention or default is of the nature referred to in sub-section (4) of section 46, a penalty not exceeding one crore rupees or twice the amount involved in such contravention or default where such amount is quantifiable, whichever is more, and where such contravention or default is a continuing one, a further penalty which may extend to one lakh rupees for everyday, after the first day, during which the contravention or default continues.]

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Union of India - Subsection

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