“FINANCE MINISTRY EXPLORING WAYS TO CURB CHEQUE BOUNCE CASES LANDING IN COURTS”

Welcome move of Ministry of Finance for exploring ways to curb cheque bouncing cases

The Ministry of Finance in a good move is exploring measures to curb the rise in cheque bounce cases being filed in the Courts thereby clogging the legal system.

By way of data integration across the banks, the offenders may not be able to open new accounts and also cheque bounce may be treated as a default of loan & reporting it to credit information companies for necessary downgrade of score.

The measure would certainly promote ease of doing business and prevent people from issuance of cheque from their accounts having insufficient funds.

Already the Hon’ble Surpeme Court through its constituted committee is escalating for disposal of huge 35 lakh pending cheque bounce cases across the country, the above measures by Finance Ministry when implemented, will certainly help in reducing the numbers of new cheque bounce cases being filed in the Court.

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