Glossary term

Penalty Framework

This term has 2 definitions.

1. Individuals convicted may receive up to 10?years? imprisonment and unlimited fines. Corporations face unlimited fines and might also have assets confiscated under POCA. Directors or executives can be disqualified. This strict penalty regime is designed to deter corporate bribery.

2. Non-compliance with CICRA provisions or RBI directions can lead to penalties for CICs?up to ?1 crore?and daily fines for repeated violations

All terms beginning with P