Kathmandu. Nepal Rastra Bank (NRB) has tightened the system related to cheque dishonour. On Thursday, the Rastra Bank amended the ‘Unified Directive, 2081’.

Now, if the cheque is returned if the money is not stored in the account or not enough, then the concerned person, firm, company or institution will be included in the blacklist. Similarly, a provision has been made to blacklist the cheque if it is returned for any reason other than the situation where the details can be shown.

Similarly, for inclusion in the blacklist, the cheque holder will have to apply to the concerned bank or financial institution within six months from the date of verification of dishonour of the cheque. After receiving the application, the concerned organization will have to inform the Credit Information Center within 5 working days. Even if the cheque is returned, its certificate is required and the cheque issuer should be given 7 days time to pay the amount.

If the blacklisted person or institution pays the cheque amount or resolves it through settlement, the concerned institution or bank can make a recommendation to the Credit Information Center within three days. The centre will have to update the recommendations received within three working days and complete the process of removing the name from the blacklist. In this way, along with the action related to cheque dishonour, the opportunity for improvement has also been kept open.

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