Bank Cheque Bounce: Be careful while transacting with cheques, now this will be the punishment if a cheque of Rs 1000 bounces..

Bank Cheque Bounce: In today's era, there has been a huge change in the methods of transaction. Most payments are now online, and cash transactions have reduced considerably. Despite being the digital age, cheques are still an important method of payment in many places, especially for large payments. You will be surprised to know that there are nine types of cheques.

Cheque bouncing is a crime in India.

If you have ever used a cheque, then you must have heard about cheque bouncing. Cheque bouncing is a serious offence, no matter what the amount of the cheque is. Even a cheque bouncing of Rs 1,000 can result in as severe a punishment as a cheque bouncing of lakhs or crores. In case of cheque bouncing, you may also have to go to jail. Therefore, always ensure that you have sufficient funds in your account while issuing a cheque.

This is the punishment for cheque bouncing-

Let us tell you, cheque bouncing is considered a crime under section 138 of the Negotiable Instruments Act 1881. If a person is found guilty of this, they can be jailed for up to two years. Or a fine of double the amount of the cheque can be imposed. Sometimes, both punishments can be given together. Even if the amount is only one thousand rupees.

Now, filing a complaint has become easy-

The process of filing a complaint against check bouncing has now become very easy. Let us tell you, earlier the complaint of cheque bounce had to be made within one month, but now a complaint can be made within three months. You can now complain about a cheque bounce online as well.

This is the rule for banks-
In case of a cheque bounce, the bank must inform both parties within 24 hours. Those who deliberately bounce a cheque can be booked under Section 318(4) of the Indian Penal Code, 2023. This may make them face legal action.

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