PHDCCI pitches for compulsory suspension of bank drawls in cheque bouncing cases

The chamber also suggested that the bank should make payment of bounced cheque first before making any other payment from the account of the cheque issuer, if possible within the banking system. For bounced bank cheques, the payee needs to start litigation, which hardly results in the payment, it said.

from Banking/Finance-Industry-Economic Times https://ift.tt/i0cI8OV