Failure to comply with transparency and reporting requirements

Failure to comply with transparency and reporting requirements.—Any lender who

1. (a) fails to provide required disclosures, loan documentation, or receipts to borrowers under Section 5; or
2. (b) fails to establish a registered office, helpline, or deliver pre-loan disclosure under this Act; or
3. (c) fails to submit annual returns as required under section-5

1. (10) of this Act shall be punishable with a fine not less than ten thousand rupees but which may extend to one lakh rupees.