Section 462APenalty for negligent conduct of bank officers and employees

s. 462A

462A. Penalty for negligent conduct of bank officers and employees Whoever, being an officer or employee of a banking company, by his negligent conduct in dealing with a banking transaction allows any customer of the company or any other person to cause loss of property to the company shall be punished with imprisonment of either description for a term which may extend to two years or with fine or with both. Explanation.-An officer or employee of a banking company shall be guilty or negligent conduct if in discharging his duties he fails, either wilfully or negligently, to follow any direction of law prescribing the mode in which such duties are to be discharged.