Legal Question in Banking Law in India

Re: cheque bouncing

RBI give guidelines but each bank has its own rules along the side of RBI guideline. even single bounce charges may apply!

Re: cheque bouncing

In free ecomony banks are entitled to fix their own condition. There is no RBI guidelines in regards to the question posed by you

But one thing i would like to clarify is that though banks are independent bodies, then also it cannot unjustly enrich itself at the cost of customer. That is to say the charges should be reasonable and not unresonable. What is reasonable or unreasonable is always an open question of fact. All these is based on the legal doctrine of equal bargain power and doctrine of proportionality. And under such circumstances law always has remedy available to the citizens.

Re: cheque bouncing

though there are many freedoms to charge to the banks, but all is under the governance of RBI and the charges can not be unjust.

though there are charges which are not allowed but still levied by banks as no body raise voice against them.

each and every cheque raises a new cause of action so every cheque attracts seperate charges but the charges should be in limits.

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Re: cheque bouncing

R.B.I. does not fix charges that can be levied by bankers in respect of collection of cheques and other services associated with a customer having an account with Bank. Each bank fixes its charges for collection of cheques which also extend to bouncing of cheques. The Bank sends outstation cheques/receives cheques by courier. Hence one cannot take exception to the said charges. If you find that the charges levied by your bank are high, you can switch over to another bank which according to you would charge reasonably.