Banking Khabar/ Banking Offences and Punishment Act 2064 has been discussed for amendment. Finance Minister Bishnu Paudel read some of the revised points proposed from the discussions held in the Finance Committee on Sunday. Finance Minister Paudel said that in the revised points, the court proceedings of check dishonour cases will be simplified, organised, practical and effective.
He also said that words like ‘government bank’, ‘cheque’, ‘India’, etc. will be defined. Finance Minister Paudel said, “Procedures through co-operative banks are also considered as banking transactions including co-operative banks in the provisions. A provision has been added that co-operative banks cannot transact business without obtaining approval from Nepal Rastra Bank.”
What is in the revised proposal?
If it is proved that the check has been dishonoured, the account holder issuing the check will be charged a fixed amount and the account holder issuing the check will be fined five percent of the fixed amount or the following penalty.
In which, it is said that in case of failure up to 500 thousand rupees, imprisonment for up to one month, in case of failure of 500 thousand to 1 million, up to 3 months imprisonment and in case of failure up to 5 million, imprisonment for up to 6 months. Similarly, there is a provision of imprisonment for up to 2 years if the amount is more than 5 million.
In addition to this, Finance Minister Paudel said that a provision has been proposed in the new amended law to allow both parties to reach an agreement.
