India | Banking Law
Legal Question
Cheque Bounce: Reason not valid
Hi, I have recently posted a same thread regd this.I had issue a cheque of PNB for part payment of my home loan account with Axis bank.The Cheque bounced with reason ''drawee sign mismatch''.I had a photocopy of the cheque issued therby I went to my home branch(PNB) and the manager agreed that the signatures are matching and it is the fault of the RCC(cheque clearing dept) of PNB;though it is all verbal.Initially he was trying to play safe and said that my account was inactive as I did'nt do any Debit transaction(though CR was done frequently)for a year but the PNB person wrote a wrong reason code.He then agred & ask me to bring the cheque along with the return memo to him and he will again re-present the same cheque(I don't know how;he was talking ab't some order memo) but Axis bank says that they can't return the bounced cheque to me as it is against there policy.I want the same cheque to be re-presented as through that my credit history will be maintained in the home loan account.Axis bank has also charge me a panalty of Rs 500 for the cheque bounce though PNB manager said that he will revert the cheque bounce charges of Rs 232 levied frm PNB.IS there any way through which my credit history is not spoiled b'coz of d fault of PNB.
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