Banking Offence and Punishment Act 2064

Chapter-3 Punishment

Section 15: Punishment
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1) If anyone commits any offence under Section 3, he shall be liable to a fine of the amount of the offence and imprisonment for a term not exceeding three months if the amount is discovered and to a fine of the amount of the offence and imprisonment for a term not exceeding three months, and if he commits any offence under Section 11, he shall be liable to a fine of the amount of the offence and imprisonment for a term not exceeding three months.
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2) If any person commits any act as per clauses (d), (d1), (d2), (e), (f), (g), (h), (i) and (j) of Section 5, 6, Section 7, Section 8, 9, 10, 12 or 14, if the following amount is related to such offence, then the following imprisonment and fine shall be imposed according to the severity of the offence:-
(a) Imprisonment for one year if the amount is up to one million rupees,
(b) Imprisonment for two to three years if the amount is more than one million rupees and up to five million rupees,
(c) Imprisonment for three to four years if the amount is more than five million rupees and up to one crore rupees,
(d) Imprisonment for four to six years if the amount is more than one crore rupees and up to ten crore rupees,
(e) Imprisonment for six to eight years if the amount is more than ten crore rupees and up to fifty crore rupees,
(f) Imprisonment for eight to ten years if the amount is more than fifty crore rupees and up to one billion rupees,
(g) Imprisonment for ten to twelve years if the amount is more than one billion rupees, whatever the amount is.
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3) The following offences shall be punishable as follows:-
(a) If an offence under clauses (a), (b), (c) of Section 7 or Section 13 is committed, a fine shall be imposed according to the amount of the offence and imprisonment for a term not exceeding four years.
(b) If an offence under Section 12A., 14A. or 14B. is committed, and the amount of the offence is as follows, the following imprisonment and fine shall be imposed according to the amount of the offence, depending on the extent of the offence:-
(1) Imprisonment for one year to three years if the amount is up to five million rupees,
(2) Imprisonment for three years to five years if the amount is between five million rupees and fifty million rupees,
(3) Imprisonment for five years to seven years if the amount is between fifty million rupees and fifty million rupees,
(4) Imprisonment for seven to nine years regardless of the amount of the offence.
4) In case the suit amount cannot be established in accordance with this Section, he/she shall be punished with a fine up to Rupees one million and imprisonment up to two years.
5) In case any organisation commits any offence specified under this Act and if the concerned office bearer or the employee committing such offence be identified, he/she shall be held liable, if the office bearer or the employee cannot be identified organisation, the person working in the capacity of the organisation head at the time of the occurrence of the offence shall be held liable.
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6) A person or organisation that attempts to commit a banking offence or a person or organisation that indirectly participates in or aids the commission of such offence shall be punished with half the punishment to be imposed on the offender.
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7) If there is an organisation that attempts to commit a banking offence or is indirectly involved in or aids the commission of such offence, the chief executive or officer or person performing work in an executive capacity of such organisation shall be punished in accordance with this Act.
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8) If the person who commits the offence under Sections 2, 5, 6, 7, 8, 9, 10, 11, 12, 12A., 12, 14, 14A. and 14B. is the chairman, director, or chief executive officer of the concerned organisation, he shall be imprisoned for one year in addition to the punishment to be imposed in accordance with this Act.
1 Amended by the First Amendment.
2 Added by the First Amendment.