Cheque Bounce New Rules: When you open a bank account, you are given many facilities. In which apart from Debit Card, Credit Card, Cheque Book, many other facilities are included. If you make payment through Chequebook then this is important news for you. Transaction of money through Cheque book has become very common. This is the reason why the cases of Cheque bounce are also increasing continuously. In such a situation, the Central Government can make major changes in the rules to reduce the increasing cases of Cheque bounce.
These suggestions were received regarding the change in the rules of Cheque bounce
According to media reports, the government may soon implement the new Cheque bounce rules. Regarding this, the government has also formed an expert committee of the Supreme Court. This committee has made several recommendations to the government. Apart from this, a high-level meeting was also organized by the Finance Ministry recently. During this, many suggestions have been received regarding the change in the Cheque bounce rules. After considering these suggestions, the government can implement it as a new Cheque bounce rule.
Finance Ministry is considering these steps
Under the rule of Cheque bounce, the Finance Ministry can take strict steps like deducting money from other bank accounts if there is not enough balance in the account of the Cheque issuing customers. Now you are making payment through chequebook, sufficient amount should be available in your bank account. If this does not happen then strict legal action can be taken against you (Cheque Bounce penalty). Along with this, many other steps are being considered including banning the opening of new bank accounts of the Cheque issuer in such cases.
Let us tell you that if the government accepts the recommendations made by the expert committee, then there can be many major changes in the Cheque bounce rules. So let us tell you about it…
In case of Cheque bounce, payment will be done from another bank account.
The biggest change that can be seen in the new rules is that now if you issue a Cheque for payment and there is no money in your bank account, then money will be deducted from your other bank account for payment. . Till now it is happening that even if there is no money in the bank account, if you pay through cheque, then your Cheque bounces directly. Now this rule will reduce the Cheque bounce case.
There will also be a ban on opening new bank accounts
On the other hand, if your Cheque bounces after the implementation of the new rule, then in such a case you will not be able to open a new bank account. Cheque bounce can also be seen as loan default. This is the reason why you will not be able to open your account in any other bank. Not only this, it will also affect your CIBIL score and in future, if you want to take a bank loan, then you may have to face a lot of problems.
Will there be any change in Cheque bounce penalty?
However, there is no possibility of change in the new rules regarding Cheque bounce penalty. At present, there is also a provision of punishment in the rules of Cheque bounce. Under this, in case of Cheque bounce, if a case is registered against the issuer of the cheque, a fine (Cheque Bounce Charges) can be imposed on him. In such a situation, the issuer of the Cheque may have to pay twice the amount of the Cheque payment to the other party. Along with this, there can also be a jail sentence of 2 years.
