Kathmandu. Nepal Rastra Bank (NRB) has urged all to deduct cheques only after looking at the balance of their bank accounts.
The central bank has issued a notification today for financial awareness. “Let us avoid legal punishment for dishonouring cheques,” the notice said.
Nepal Rastra Bank (NRB) has clarified that no one should issue cheques to anyone if the money is not in their account or even if it is not enough for payment. “If the cheque holder so issued does not make the payment due to non-availability of money in the account, the bank or financial institution or cooperative bank may give a maximum period of 45 days to the person issuing the cheque to deposit the amount in his account,” reads the notice. You have to do it. ’
In the event of dishonour of the cheque, the account holder issuing the cheque has to issue a cheque to the holder by paying the amount as per the existing law from the date of issuance of the cheque to the date of payment of the amount and the account holder can be fined 5 percent of the bigo and imprisoned as per the law.
