- The government is looking to amend the Negotiable Instruments Act (NIA) in the upcoming monsoon session in a push for less-cash economy, and a draft Bill in this regard is being readied.
- Jaitley had said that “after cheque bounce, the litigation process is very complex and takes time. So, for traders with a bounced cheque, litigation takes a long time to recover the money”.
- There were some suggestions that the persons whose cheques bounce should be allowed to defend the case only after depositing the money in the court first, according to the minister.
via Monsoon: Government likely to amend Negotiable Instruments Act in monsoon session – The Economic Times
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