(1) If any commercial bank or financial institution which has obtained a license from the bank violates this Act or the rules or regulations made under this Act or the order or instructions issued by the bank under the same, the bank may impose one or more of the following punishments on such commercial bank or financial institution: - (a) Alerting or issuing a written warning. (b) Instructing the Board of Directors to take corrective action. Suspending or terminating services. (e) Prohibiting the distribution of dividends by commercial banks or financial institutions to their shareholders. Imposing partial or complete restrictions on transactions. (h) Suspending or canceling the license of a commercial bank or financial institution. If the director or officer or employee of the institution violates or acts contrary to the interest of the depositors or the general public or fails to submit the documents, details or evidence requested by the bank or the inspection and supervisory officer within the specified time, the bank shall punish such director, officer or employee as follows Can punish:- (a) Warn or warn. (b) Suspension. (c) Cash fine up to five lakh rupees. Giving orders. (e) Giving orders to the board of directors of the concerned commercial bank or financial institution to remove the director from the directorship or to suspend the officer or employee from service.