KATHMANDU, Sept 8: Under new legislation, individuals found guilty of cheque bouncing could face imprisonment ranging from one month to two years. This measure was confirmed during a recent Finance Committee meeting on the Banking Offenses and Punishment (Second Amendment) Bill, 2080, at the Federal Parliament Secretariat, Singha Durbar.
The committee has outlined that the duration of imprisonment will vary based on the value of the bounced cheque. Specifically, cheques amounting to up to Rs 1.5 million will result in one month of imprisonment, while those up to Rs 5 million will incur three months of imprisonment. Additionally, a fine of five percent of the cheque’s amount will be imposed.
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Finance Committee Chairman Santosh Chalise highlighted that these new measures aim to tackle the issue of unpaid dues despite legal penalties, ensuring justice for victims and enhancing the reliability of cheques.
Deputy Prime Minister and Finance Minister Bishnu Paudel said that the discussions on the bill have been constructive and that the government is ready to adopt the proposed changes. He emphasized that the growing number of cheque bounce cases necessitates stricter penalties to prevent such offenses.
Similarly, MP Surya Thapa proposed standardizing compensation or interest rates nationally to address trust issues related to cheques. MP Dr Prakash Sharan Mahat endorsed the idea of combining imprisonment with a five percent fine, while MP Dr Swarnim Wagle advocated harsher penalties for cheques exceeding Rs 10 million.
