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of <h1>Violating Section 4 of the Banning of Unregulated Deposit Schemes Act, 2019, leads to severe penalties including imprisonment and hefty fines.</h1> Any deposit taker violating the provisions of section 4 of the Banning of Unregulated Deposit Schemes Act, 2019, faces imprisonment for up to seven years. Additionally, they may be fined a minimum of five lakh rupees, which can increase to either twenty-five crore rupees or three times the profits gained from the fraudulent default, whichever is higher. Both imprisonment and fines may be imposed.
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