Power to give direction

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(1) If, in the course of inspection or inquiry made pursuant to Sub-section (1), an institution is found to have committed any of the following acts, the Bank may give direction to the institution to make reforms in any activity to be carried out by the institution or to make any specific provision, within the period as specified by the Bank:

(a) Having failed to do any act as required to be done pursuant to this Act,
(b) Having done any ac that is contrary to the depositors/savers and27 borrowers,
(c) Having failed to properly maintain its books of accounts, accounts or documents,
(d) Having failed to abide by the terms specified and directions given by the Bank,
(e) Having misappropriated the funds of the institution or used the received amounts in any activity that is contrary to the objectives of this Act28 ,
(f) Having failed to provide such details, data or documents as demanded pursuant to this Act.
(2) The Bank may from time to time give directions to the institution in relation to the matters to be carried out by the institution pursuant to this Act or the Rules framed under this Act, and it shall be the duty of the concerned institution to abide by such directions.

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