Bouncing of Cheque not Acceptable; NRB to mandate provision under Banking Accusation and Punishment Act, 2064

IF your bank account does not have sufficient balance but still you have been issuing cheque then its time when you need to stop this activity and think back because Nepal Rastra Bank (NRB) has published the notice regarding this on the national daily newspaper of Falgun 28, 2075.

Notice states that, Everyone is requested not to issue cheque knowingly that the concerned account doesn’t possess sufficient amount. Otherwise, one will be punished under the provision contained in Banking Accusation and Punishment Act, 2064. Provision under this Act states that, Repayment to be made and atleast three months of imprisonment.

Also, If you receive the bounced cheque then you need to file it to the near police station against that party. Bouncing of cheque is taken seriously by the police and will arrest that party.

Once the cheque is bounced for three times then such person will not be eligible to open any bank account neither he/she will remain eligible to borrow loan.

In case the cheque is not exchanged and upon notice given by the bank to that party, cheque is even not exchanged then one should verify it as a bounced cheque. If they refuse to do so then one should visit NRB and file the case therein.

Upon arrested by police then if he/she does not pay the amount then the case will be filed in the court. The court will however, justify the case