The Legal Definition:
Any driving or riding on a public way that endangers or hurts a person is considered rash driving.
Bare negligence which endangers a person’s life without actually causing any injury is a criminal offence.
The offences and punishment attracted under the Indian Penal Code (IPC):
Section 304-a: Causing death by negligence
Whoever causes death by a rash and negligent act that does not amount to culpable homicide will be punished with imprisonment up to two years or with fine or both.
The offence is cognizable and bailable which means the police can arrest and release the accused immediately.
If you only cause injury:
No damages can be claimed for negligent or rash driving if no one is hurt
But negligence and driving at high speed which can risk injury to someone else is punishable criminally even if nobody is hurt.
Punishment:
Whoever by rash or negligent driving endangers human life or causes hurt or injury to another person shall be punished with imprisonment which may extend to six months, or with fine which may extend to Rs 1,000 or both.
Under the Motor Vehicles Act
The police can confiscate the driving licence of a person if he/she is caught speeding.