Multiple choice

Where a bank is prohibited to accept the deposit despite prohibition, if the bank deposits, what is the punishment?

  1. Fine to extent of 20% of the amount of deposit so accepted

  2. Fine to extent of 50% of the amount of deposit so accepted

  3. Fine to extent of 100% of the amount of deposit so accepted

  4. Fine to extent of 200% of the amount of deposit so accepted

  5. Deposit has to be returned back
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

If the bank deposits the amount which is prohibited, there is fine to extent of 200% of the amount of deposit so accepted.

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