Monetary penalties under Section 13(2)(d) of the Prevention of Money Laundering Act, 2002 are-
Section 13(2)(d) provides a monetary penalty that "shall not be less than ten thousand rupees but may extend to one lakh rupees for each failure". There is no ten-lakh…
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Monetary penalties under Section 13(2)(d) of the Prevention of Money Laundering Act, 2002 are-
Answer and explanation
Correct answer D
Section 13(2)(d) provides a monetary penalty that "shall not be less than ten thousand rupees but may extend to one lakh rupees for each failure". There is no ten-lakh ceiling, no fixed amount and no lower minimum.