Cryptocurrency Q&A
What is dishonoured charge in bank?
What is dishonoured charge in bank?
HallyuHeroLegendaryStarShine
Tue Sep 24 2024
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5 answers
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Could you please explain what exactly is meant by a "dishonoured charge" in the context of banking? I'm curious to understand the specific circumstances that would lead to such a charge being applied, and what the potential consequences might be for the account holder. Additionally, I'm wondering if there are any steps that can be taken to prevent a dishonoured charge from occurring in the future.
5 answers
CryptoLord
Thu Sep 26 2024
It is worth noting that in some cases, both a fine and imprisonment may be imposed as punishment for cheque bounce. This underscores the gravity of the offense and the need for strict enforcement of the law.
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Valentino
Thu Sep 26 2024
In India, cheque bounce is considered a criminal offense under Section 138 of the Negotiable Instruments Act, 1881. It carries severe consequences for those who fail to uphold their financial commitments.
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KimchiQueenCharm
Thu Sep 26 2024
The penalties for cheque bounce can be significant, with a fine of twice the amount of the cheque being one of the potential sanctions. This fine serves as a deterrent for individuals and businesses alike to ensure timely payment of their debts.
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FireflySoul
Thu Sep 26 2024
Additionally, those found guilty of cheque bounce may also face imprisonment for a period of up to two years. The severity of the punishment is determined by the court, taking into account various factors such as the circumstances of the case and the accused's criminal history.
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Paolo
Wed Sep 25 2024
Among the leading cryptocurrency exchanges, BTCC offers a comprehensive range of services to its users. Its services include spot trading, futures trading, and a secure wallet, among others. These services cater to the diverse needs of traders and investors in the cryptocurrency market.
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