From Our Bureau
NEW DELHI: The Government is contemplating to deduct the money from other bank accounts of the person issuing a cheque that bounces and refrain him or her from opening any new bank account.
This was discussed in a meeting recently convened by the Finance Ministry on steps to be taken before the recipient takes the legal recourse for recovery. If the person does not have sufficient funds in his bank account, money will be deducted from his other bank account.
Yet another step under consideration is to treat a case of the cheque bouncing to reduce the credit worthiness of the person.
At present, one can issue notice to the person issuing a cheque that bounces and then file a case in court. It is a cognizable offence in which punishment is double the penalty or two years of jail or both.
