Cheque Bounce New Rules : To make cheque-related payment systems more transparent, rules regarding cheque bounce have been made stricter. These rules have been tightened to curb fraud.
If you also conduct transactions through cheques (Cheque Bounce New Rules), then through this news let’s understand what major changes have been made in cheque bounce rules and how these rules will impact customers.
What rules have changed regarding cheque bounce?
According to the new rules, if someone deliberately causes a cheque to bounce, strict punishment will be imposed. In such cases, the दोषी (accused) can face imprisonment of up to two years, along with a fine of up to double the cheque amount.
Not only this, but hearings of cheque bounce cases in courts will now be faster. The Madras High Court has also issued special directions to simplify this process.
Earlier, under the rules (Cheque Bounce New Rules), there was a time limit of one month to file a complaint. Now, the time limit for filing a complaint has been extended to three months. This will give the complainant more time to present their case.
Complaints can now be filed online
Under the new rules, complaints related to cheque bounce (What is a dishonoured cheque) can now be filed online, and digital evidence will also be given importance. This will make it easier to register complaints.
As per the rules, a uniform procedure has now been implemented for banks. This means that regardless of which bank is involved, action in cheque bounce cases will follow the same process.
Now, if a cheque bounces, both the account holder and the cheque recipient will be informed within 24 hours via SMS and email. The reason for the cheque bounce will also be communicated.
Account may be frozen
According to the rules (check bounce ke niyam), if a person’s cheque bounces three consecutive times, the bank may temporarily freeze that account. This step has been introduced to maintain discipline in the payment system.
Ways to avoid cheque bounce
Cheques bounce for several reasons. To avoid cheque bounce:
- Maintain sufficient balance in your account.
- Fill in the date and recipient’s name correctly.
- Use good-quality ink.
- Do not use torn or damaged cheques.
- Draw two lines and mark the cheque as “Account Payee.”
- Regularly check your bank statements.
- If payment may be delayed, inform the other party in advance.
Penalties for cheque bounce
Cheque bounce (Reasons of Cheque Bounce) is considered a legal offense. Under Section 138 of the Negotiable Instruments Act, 1881, cheque bounce is a punishable crime.
Under this Act, the offender may face:
- Imprisonment of up to two years
- A fine up to double the cheque amount
- Court fees and legal expenses
- An additional penalty ranging from ₹100 to ₹750