Section 58B(5) in The Reserve Bank of India Act, 1934
(5)If any personother than an auditor—(a)receives any deposit in contravention of any direction given or order made under Chapter IIIB; or(aa)fails to comply with any direction given or order made by the Bank under any of the provisions of Chapter IIIB; or(b)issues any prospectus or advertisement otherwise than in accordance with section 45NA or any order made under section 45J, as the case may be,he shall be punishable with imprisonment for a term which may extend to three years and shall also be liable to fine which may extend,—(i)in the case of a contravention falling under clause (a), to twice the amount of the deposit received; and(ii)in the case of a contravention falling under clause (b), to twice the amount of the deposit called for by the prospectus or advertisement.
