Cheque Bounce New Rules: If the government implements new rules following the recommendations made by the expert committee, then Cheque bounce cases will reduce.
Cheque Bounce New Rules: When you open a bank account, you are given many types of facilities. In which apart from Debit Card, Credit Card, Check Book, many other facilities are included. If you make payment through Cheque book then this is important news for you. Money transactions through Cheque books have become quite common. This is the reason why Cheque bounce cases are also continuously increasing. 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 changes in the rules of Cheque bounce.
According to media reports, the government may soon implement new Cheque bounce rules. The government has also formed an expert committee of the Supreme Court regarding this. This committee has made many recommendations to the government. Apart from this, recently the Finance Ministry had also organized a high level meeting. During this period, many suggestions have been received regarding change in Cheque bounce rules. After considering these suggestions, the government can implement it as new Cheque bounce rules.
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 of Cheque issuing customers if there is not sufficient balance in their account. 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 Cheque issuer from opening new bank accounts 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…
If Cheque bounces, payment will be made from another bank account
The biggest Cheque 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 has been happening that even if there is no money in the bank account, if you make payment through cheque, then your check directly bounces. Now this rule will reduce Cheque bounce cases.
There will also be a ban on opening new bank accounts
At the same time, 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, you may have to face a lot of problems.
Will there be any change in Cheque bounce penalty or not?
However, there is no possibility of change in the new rules regarding Cheque bounce penalty. At present there is also a provision for punishment in the rules of Cheque bounce. Under this, in case of Cheque bounce, if a case is registered against the person issuing the cheque, a fine (Cheque Bounce Charges) can be imposed on him. In such a situation, the issuer of the check may have to pay twice the check payment amount to the other party. Along with this, there can also be a jail sentence of 2 years.