Cheque Bounce: There are many cases of Cheque bounce in the country, but till now no result has come out in these cases. Now the government is preparing a new plan for these matters. If someone's check has bounced, not only will legal action be taken against him, but the money will be recovered from the person's other account.
According to the information received, let us tell you that the government has made complete preparations with the RBI and can implement the new system soon. Recovery of money from another account simply means that the Cheque holder will have to pay the money in any case. Also, there can be punishment.
Loan default rules will be applicable-
A CNBC report states that after this process is developed, the credit score of the company or person with the check bounce will also deteriorate. Apart from this, the rules of loan default will also be applicable to these cases. This will reduce the cases of check bounce and people will back away from bouncing the Cheque themselves.
Rules discussed in the meeting
The RBI and the government have held a meeting last week regarding this rule. Regarding this rule, it was said that due to its arrival, no new account will be opened even if the check bounces. Besides, money will also be recovered from other accounts.
How many years of punishment are there for Cheque bounces?
In the case of Cheque bounce, there is a provision of punishment of 2 years and it can be changed in the coming times. According to PTI, a Supreme Court panel had also suggested some changes in the Negotiable Instruments Act, of 1881. Let us tell you that under the Negotiable Instruments Act, of 1881 (NI Act), there is a provision for punishment for check bounce.
PC Social media
