Thursday, August 4, 2016
Dishonour of cheques
Banks were earlier advised that, if in a financial, year four cheques of Rs. 1 cr and above were dishonored in an account for insufficient funds, no fresh cheque book should be issued. The bank could also consider closing the current account at its discretion.
Based on RBI circular dated 4/8/16. For further details please refer www.rbi.org.in ……………. Poppy