Legal Question in Banking Law in India
Cheque bounce
Any bank can bounce a cheque without informing to account holder of unsufficient balance ?
Asked on 8/06/08, 7:57 am
3 Answers from Attorneys
Aniruddha Pawse
Aniruddha.P.Pawse Advocates
Re: Cheque bounce
depends on practice of banks and type of accounts.
Answered on 8/07/08, 10:50 am
J. Radhakrishnan
independent Practice
Re: Cheque bounce
Normally Banks do not advise account holders of insufficient balance. Some banks who require minimum balance in credit to be held by an account holder advise them. They even close the account and advise the account holder. When a cheque bounces due to insufficient balance, it is the presenting/collecting bank that is advised with the returned cheque.
Answered on 8/06/08, 9:07 pm
Homi Maratha
N.N. Maratha & Co.-Advocates
Re: Cheque bounce
It depands on the type of account or the Bank.
Answered on 8/07/08, 1:53 am
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