Finance Ministry considers measures like auto debiting other a/cs of issuer to curtail cheque bounce cases

The finance ministry is considering multiple ways such as dipping into other accounts of a cheque issuer and prohibition of opening of new accounts of offenders to effectively deal with cheque bounce cases. These cases have been 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, reported PTI.

from Banking/Finance-Industry-Economic Times https://ift.tt/cDbuABg