Complaint Process in cheque Bounce cases under proposed new Rule 2025
Complaint Process in cheque Bounce cases under proposed new Rule 2025 =============================== Are you aware that major amendments have been approved in the rules pertaining to check bounce in 2025? The Negotiable Instruments Act has been amended directly by the Government of India bringing in new guidelines regarding check bounce cases. These changes would be effective from April 1, 2025 and are aimed at reducing fraud and making transacting more transparent. Let us know in detail how these new rules will become applicable to you. Provision Of New Punishment On Check Bounce In accordance with the new rules, a person, who purposely causes a check to get bounced, may now be imprisoned for a period of two years or be subject to payment of a fine double the check amount. This punishment was previously for only one year. Now, it has been increased. However, there is still provision regarding the relief in case of between a technical glitch or bank error. New Complaints Procedur...
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