New law allows for quick prosecution in check bounce cases

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Suppose a youth who bought a small 1 bed room house earns a salary of 50 K and pays an emi of 16 thousand a month, loses his job. Bank does not consider that he lost his job, infact pressures hard to pay because he is defaulting. Getting a job after you are fired is not an easy thing to do. so lets say this guy misses 3 emis. Luckily he gets a job in 4th month that means 4 emi pending. he starts to pay from the 5th month but bank put a compound interest for the 4 emi loss. in the end when bank is not able to get those money, they intentionally bounces the cheque. Does your passes law covers this. Or the common man is just becoming victim of circumstances in these objective laws. let me tell you, an average India try very hard to be away from lawyers and police and if someone takes a courage to go to the lawyer , These lawyers provide generic advise for free and handle actual cases for a good amount of fees with winning no grantee . So an average man loses money in paying to all these people. Any system to manage these expenses via Tax -NO Any provision to help support these individual - NO No doubt why some bankers are becoming billionaire . more  

Good reform... more  

Good reform! more  

Why not the first 40% be paid on production of cheque bounce evidence to district collector or lower? Why Courts every time? Zero use of this plethora of Ministers, MPs, MLAs & IAS. Executive is rooted to its seats (& election platforms). more