Frequent Dishonor of Cheques

The practice of issuance of cheques or issuance of ECS mandates without maintaining adequate funds undermines the credibility of such instruments and is an unhealthy trend that needs to be curbed.  As such, Bank requests its customers to maintain adequate balance before issuance of any cheque or allowing ECS debit mandate. This should be treated as notice to customers who intends to open accounts with the Bank.

If it is observed that practice of issuing cheques or ECS debit mandate persists in case of any customer, then such cases shall be dealt as under.

Frequent dishonor of cheques / ECS mandate for amounts below Rs 1 Crores

Frequent dishonor of cheques / ECS mandate for amounts above Rs 1 Crores