Govt plans strict punishment for cheque bounce
New Delhi: In view of demonetisation and to promote cashless economy the government has taking more steps. Now the government is planning to amend the law to introduce stringent punishment for bounced cheques.
Some traders’ associations have given this proposal to the government. Earlier, the associations met finance ministry and discussed about it pre budget exercise.
As per sources, if the proposal is accepted, the government could come out with a legislation to amend the law pertaining to cheque bounce cases.
In more cases it has been that traders are cautious of accepting cheques from customers for fear for them bouncing. For that the associations have given this proposal.
Among the suggestions put forward by the traders’ associations for cases of bounced cheques are imprisonment for the issuer of the cheque within a month of it bouncing, sources said.
However, it is not clear that whether the government would agree the suggestions or not.