Section 124: Not to be liable for acts done in good faith

1) The official or employee of the Rastra Bank or a bank or financial institution shall not be held individually or collectively liable for any act carried out in good faith under this Act or Rastra Bank Act or the Rules or Byelaws framed hereunder or the orders or directives issued thereunder.

2) If any kind of lawsuit is filed against the Rastra Bank, a bank or financial institution or an official thereof in relation to any loss or damage caused or likely to be caused by any act carried out or supposed to be carried out in good faith for the compliance with this Act or Rastra Bank Act or the Rules or Byelaws framed hereunder or the orders or directives issued thereunder, the concerned institution shall bear the expenses of such lawsuit.

Provided that in case of the act committed out of enmity, negligence or malafide intention, the concerned person shall be liable, and Rastra Bank or a bank or finance company shall not bear the expenses to be incurred on such matter.