Cheque Bounce

Ram Gopal Varma sentenced to three months jail in cheque bounce case

Ram Gopal Varma has been asked to pay Rs 3.72 lakh compensation within three months or face an additional three months in jail

Kerala's Kollam gets India's first digital court for cheque bounce cases

Chief Minister Pinarayi Vijayan hailed this as a historic day for Kerala's judiciary

Beware! Cheque bounce can lead to hefty penalty and imprisonment

Keep sufficient funds in account, fill cheque details accurately and legibly, and ensure your signature hasn't changed

Finance ministry mulls steps to curb cheque bounce cases: Report

The finance ministry is mulling several steps like dipping into other accounts of a cheque issuer and prohibition of opening of new accounts of offenders to effectively deal with cheque bounce cases which are clogging the legal system. Many suggestions were made at a high-level meeting recently called by the ministry to deal with the high incidence of cheque bounce cases. Some of the steps suggested before taking legal recourse included debiting another accounts of the cheque issuer if his or her account is short of funds to honour the instrument, sources said. The other suggestions were treating cheque bounce as default of loan and thus reporting it to credit information companies for necessary downgrade of score, the sources said, adding a proper legal view would be taken before these suggestions are accepted. If these suggestions are implemented, it would help enforce cheque honouring by the payer without the matter going to court and also compel him/her to make payment by creat

SBI dishonours cheque after misreading Kannada numeral; fined Rs 85,000

A State Bank of India branch has been fined Rs 85,177 by the Dharwad District Consumer Grievances Redressal Forum for dishonouring a cheque after failing to properly recognise a Kannada numeral on it. Vadirajacharya Inamdar issued an SBI cheque for Rs 6,000 to Hubli Electricity Supply Company Limited (HESCOM) towards his electricity bill on September 3, 2020. HESCOM had its account in Canara Bank and therefore the cheque was sent to the SBI branch at Haliyal in Uttara Kannada district of Karnataka for clearance. The cheque was filled in Kannada including the numerals. The SBI branch in Haliyal wrongly identified the Kannada numeral nine as six and, therefore, dishonoured the cheque. The numeral nine indicated the month of September, but the bank read it as June. Inamdar, an English lecturer in the Government PU College in Hubballi, approached the Consumer Forum with his complaint. On Wednesday, the Forum consisting of President Ishappa Bhute and members V A Bolishetti and P C Hir

Supreme Court sets up special courts in 5 states for cheque-bounce cases

To function in Delhi, Gujarat, Maharashtra, Rajasthan and UP from Sept 1

Strong recovery seen as bounce rates ease further in Feb; lowest in 32 mths

According to NACH data, the metric improved by 100 bps by value over Jan, to 22.4%. By volume, it stood at 29.2%, an improvement of 40 bps over Jan

Bounce rates in December fall to their lowest since Covid-19 pandemic

December data indicates a good third quarter for banks on asset quality front

Govt likely to drop plan to decriminalise cheque bounce offences

It would seek directions from a Supreme Court panel formed to expedite the pendency of cheque bounce cases before taking a final call

Cheque bouncing up in April during second wave of Covid-19: HDFC Bank

Ehile cheque returns in April have risen slightly, it this does not necessarily point to a trend, say bank officials

SC issues directions for speedy disposal of cheque bounce cases

The Supreme Court came out with a slew of directions to ensure speedy disposal of cheque bounce cases across the country

RBI governor announces 'positive pay' feature to help avert cheque frauds

Under the 'positive pay' system, a customer who issues the cheque clicks a picture of the cheque before handing it over to the beneficiary and uploads the same on the bank's mobile application

Banks, businesses debate decriminalising dishonouring of cheques

The government wants to change the law, more so in recent months as part of reforms helping business

Don't decriminalise, fix financial limits for cheque bounce: Bank union

The risk of imprisonment for actions or omissions that aren't necessarily fraudulent or the outcome of mala fide intent is a big hurdle in attracting investments

From arbitration to bounced cheques, here're the key court orders

SC has reiterated that once the issuance of a cheque and the signature on it have been admitted, there's always a presumption that it was issued to satisfy a legally enforceable debt or liability.

Pre-deposit in cheque to bank guarantee, key court orders of last week

The court set aside the high court ruling and clarified that the state law and the central law on arbitration were not in conflict and the tribunal can pass interim orders

Spotting faulty signatures on bounced cheques using computer vision and ML

The algorithm developed by tech entrepreneur Mahadevan Jayaram's firm has been tested on more than 20,000 handwritten signatures to establish their genuineness

Cheque bounce appeals possible only if 50% fine is deposited with new rules

The government is likely to amend Negotiable Instrument Act