Norms Eased In Cheque Dishonour Cases Of Rs 1 Crore And Above

Mumbai: Relaxing cheque book norms, the Reserve Bank of India on Thursday left it to the lender's discretion on whether to issue fresh cheque books or not in cases of dishonour of Rs 1 crore and above. As per the existing directive, banks are not allowed to issue fresh cheque books in the event of cheque dishonor valuing Rs 1 crore and above on four occasions during a financial year for want of sufficient funds. Also, in such cases...