Focus on Negotiable Instruments Act

The Union Cabinet is expected to take up the proposal of promulgating an ordinance to amend the Negotiable Instruments Act on Wednesday. a move that would help fasttrack resolutions of cases of bouncing cheques and remove the ambiguities on judicial issues. It would allow filing of cases against the issuer of these cheques.
The credibility of cheque as a financial instrument is expected to go up with this move which would also help trade and commerce in general and allow the lending institutions to continue to extend loans, without fear of default on account of bouncing of a cheque.

Hindustan Times, New Delhi, 26th August 2015

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