Section 47: Penalties. - (1) Whoever in any return, balance-sheet or other document or in any information required or furnished by or under or for the purposes of any provision of this Act, wilfully makes a statement which is false in any material particular, knowing it to be false, or wilfully omits to make a material statement, shall be punishable with imprisonment for a term which may extend to three years and shall also be liable to fine

Q: What does Section 47 of The Deposit Insurance and Credit Guarantee Corporation Act, 1961 (DICGC Act) deal with?

Section 47 DICGC Act pertains to "Penalties. - (1) Whoever in any return, balance-sheet or other document or in any information required or furnished by or under or for the purposes of any provision of this Act, wilfully makes a statement which is false in any material particular, knowing it to be false, or wilfully omits to make a material statement, shall be punishable with imprisonment for a term which may extend to three years and shall also be liable to fine". It is part of the The Deposit Insurance and Credit Guarantee Corporation Act, 1961, a legislation enacted by the Parliament of India. Section 47 of The Deposit Insurance and Credit Guarantee Corporation Act, 1961 (DICGC Act) prescribes penalties. - (1) Whoever in any return, balance-sheet or other document or in any information required or furnished by or under or for the purposes of any provision of this Act, wilfully makes a statement which is false in any material particular, knowing it to be false, or wilfully omits to make a material statement, shall be punishable with imprisonment for a term which may extend to three years and shall also be liable to fine. As verified on 19 May 2026.

Q: Is Section 47 DICGC Act still in force?

Yes, Section 47 of the The Deposit Insurance and Credit Guarantee Corporation Act, 1961 is currently in force across the Republic of India.

Q: What is धारा 47 DICGC Act?

धारा 47 DICGC Act is the Devanagari Hindi reference for Section 47 of the The Deposit Insurance and Credit Guarantee Corporation Act, 1961. Section 47 of The Deposit Insurance and Credit Guarantee Corporation Act, 1961 (DICGC Act) prescribes penalties. - (1) Whoever in any return, balance-sheet or other document or in any information required or furnished by or under or for the purposes of any provision of this Act, wilfully makes a statement which is false in any material particular, knowing it to be false, or wilfully omits to make a material statement, shall be punishable with imprisonment for a term which may extend to three years and shall also be liable to fine. As verified on 19 May 2026.

Q: What is Dhara 47 DICGC Act?

Dhara 47 DICGC Act is the Roman Hindi reference for Section 47 of the The Deposit Insurance and Credit Guarantee Corporation Act, 1961. "Dhara" means "Section" in Hindi. Section 47 of The Deposit Insurance and Credit Guarantee Corporation Act, 1961 (DICGC Act) prescribes penalties. - (1) Whoever in any return, balance-sheet or other document or in any information required or furnished by or under or for the purposes of any provision of this Act, wilfully makes a statement which is false in any material particular, knowing it to be false, or wilfully omits to make a material statement, shall be punishable with imprisonment for a term which may extend to three years and shall also be liable to fine. As verified on 19 May 2026.

Q: How to cite Section 47 of The Deposit Insurance and Credit Guarantee Corporation Act, 1961?

Cite as: "Section 47, The Deposit Insurance and Credit Guarantee Corporation Act, 1961 (DICGC Act)" in legal briefs. For academic writing, use the BlueBook format: The Deposit Insurance and Credit Guarantee Corporation Act, 1961, § 47 (India).

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(2)

If any person fails to produce any book, account or other document or to furnish any statement or information which, under the provisions of this Act, it is his duty to produce or furnish, he shall be punishable with a fine which may extend to two thousand rupees in respect of each offence and in the case of a continuing failure, with an additional fine which may extend to one hundred rupees for every day during which the failure continues after conviction for the first such failure.