Cheque Bounce: If the government implements new Cheque bounce rules after the recommendations of the expert committee, then there will be a reduction in check bounce cases.
Cheque Bounce Rules: In today’s era, bank transactions have become common. Most of the people take the help of Cheque book for payment of money. It is one of the oldest methods of payment and is also considered very secure. You also get to hear the news of check bounce in between. In view of the increasing cases of check bounce, it is expected that the government can soon rein in such cases and can change the rules related to it.
The government is working fast to bring new rules related to Cheque bounce. For this, the government has formed an expert committee of the Supreme Court, which suggests rules related to it. Apart from this, the Finance Ministry had also held a high-level meeting some time ago regarding the new rules. Let us tell you that before issuing the cheque, you have to take care of these important things. Otherwise, you may have to face many big problems.
Money will be deducted from other account
If the account holder does not have enough money in his account and still issues a cheque, then in such a situation the phenomenon of Cheque bounce comes to the fore. So in such a situation, new rules can be implemented to stop this, under which the Finance Ministry can deduct money from other bank accounts of the account holder if there is not enough balance in the account. Along with taking strict steps, fine can also be imposed in the form of legal action.
Will not be able to open another account
If a person’s Cheque bounces after the new rules of Cheque bounce come into force, then after that he will not be able to open any other bank account. The government hopes that with the introduction of this rule, there can be a reduction in the check bounce rate.
Loan will not be available after Cheque bounce
According to the new rules, if your Cheque bounces, then you may have to face many problems even in taking a loan. Cheque bounce can be shown as loan default. If this happens, the CIBIL score of the defaulter may deteriorate and the hopes of getting a loan in the future may end. So never let your check bounce.
