Effective law needed to address cheque bounce cases: Finance Minister

Kathmandu, Sept 8: Deputy Prime Minister and Minister for Finance Bishnu Poudel has said government was for enforcing an effective law to address the cheque bounce cases.     

Speaking in a meeting of the Finance committee under the House of Representatives (HoR) here Sunday, Minister Poudel said the issues of cheque bounce were increasing day by day, so enactment of effective laws was imperative.     

Last year, the Cabinet meeting had approved the draft Bill, 2080 BS to amend the Banking Offenses and Punishment Act, 2064 BS and was tabled in the parliament by then Finance Minister Dr Prakash Sharan Mahat. Since then the parliamentary committee has been continuously holding discussions on the various amendment proposals on the bill.     

The government prepared the bill based on the recommendations of the Supreme Court and the Attorney General's Office to amend the Banking Offenses and Punishment Act, in view of the varying legal remedies in the cases of cheque bounce.     

Now, the HoR Committee is weighing on different options to this regard.(RSS)