Section 55, Public Financial Institutions (Obligation as to Fidelity and Secrecy) Act, 1983 [S1S-EVT]

As at 7 September 2026. In force from 12 April 1983.

In Public Financial Institutions (Obligation as to Fidelity and Secrecy) Act, 1983 [A10-VXB]. This text from 12 April 1983. No other text held.

Synthetic. The words of this section are generated by the register; the title, number and year of the Act are real.

Cite: Section 55, Public Financial Institutions (Obligation as to Fidelity and Secrecy) Act, 1983 [S1S-EVT]. Machine: S1S-EVT.

55. Penalty for contravention.—(1) Whoever contravenes the provisions of section 4 or section 5 shall be punishable with fine which may extend to ten lakh rupees, and in the case of a continuing contravention, with an additional fine which may extend to ten thousand rupees for every day during which the contravention continues after conviction for the first such contravention. (2) Whoever contravenes any other provision of this Act or the rules made thereunder, for which no penalty is elsewhere provided, shall be punishable with fine which may extend to ten thousand rupees.

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Made under this section, or naming it (0)

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Cited by (1)

Section 54, Public Financial Institutions (Obligation as to Fidelity and Secrecy) Act, 1983 [S1S-ETR], 12 April 1983, Band A. "section 55".

Not held (0)

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Duties published under this section (0)

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