Chapter 5 Monetary Functions and Operation of the Open Market

Section 47: Failure to Maintain Compulsory Deposit

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In cases where any commercial bank or financial institution fails to maintain the compulsory deposit prescribed by the Bank, the Bank shall impose a fine on the bank or financial institution for the period of such failure. While imposing the fine, the amount of fine shall not be more than three times the maximum of the bank rate prescribed by the Bank.

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Section 47: Failure to Maintain Compulsory Deposit

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