Penalty for failure to furnish information imposes accruing fines and a capped liability for filing and record keeping breaches.

Section 19A imposes penalties for failure to furnish or file required information, documents, books, returns or reports, for furnishing false, incorrect or incomplete material, and for failure to maintain books of account or records; penalties include a prescribed minimum, an accruing daily liability for each day the failure continues, and a statutory maximum cap, applying to each separate failure under the Depositories Act.

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