Saturday, June 28, 2025
  • Webmail
  • Contact Us
  • About BBS
  • Privacy & Policy
ENG
DZO
BBSCL Logo
  • Home
  • Business
  • Politics
  • Sports
  • Education
  • More
    • Announcement
    • Audience Survey Report
    • Programme
    • Radio Dzo-Channel Schedule
    • Radio Mix-Channel Schedule
Radio Live
No Result
View All Result
BBSCL logo
  • Home
  • Business
  • Politics
  • Sports
  • Education
  • More
    • Announcement
    • Audience Survey Report
    • Programme
    • Radio Dzo-Channel Schedule
    • Radio Mix-Channel Schedule
No Result
View All Result
BBSCL logo
Radio LIVE

RMA introduces charges for cheques issued with insufficient amount in their account

January 31, 2017
in Uncategorized
Reading Time: 1 min read
0
0
SHARES
7
VIEWS
Share on FacebookShare on Twitter

Starting tomorrow, account holders with cheque facility will be charged Nu 300 for every cheque issued with insufficient amount.

Royal Monetary Authority (RMA) says, henceforth, all accounts with cheque facility will be required to maintain a minimum balance of Nu 1,000.

The move is to reduce misuse of cheques by the cheque facility account holders. The Central Bank has already informed the public and issued a circular to the financial institutions.

The Oversight Officer of the Payment and Settlement system Department of the RMA, Kesang Jigme said it is a criminal offence to issue cheque with insufficient fund.

“As per the provision stated under section 131 under Negotiable Instrument Act of the Kingdom of Bhutan 2000, it is an offence and punishable to issue cheque with insufficient fund”.

However he said people are unaware of such legal provisions.

Kesang Jigme added the decision was also based on the study carried out by the Central Bank over a period of three years.

“There were large numbers of cheques being returned to Royal Monetary Authority. So we were devoting much of our time in clearing. And also to give a sense of the magnitude of the issue. Account holder has issued a cheque eighty four times from January to November last year. In eleven moths he has issued eighty four cheques with insufficient fund. Meaning there are some sections of people misusing the check facility by issuing bad cheques,” he added.

RMA says the system will automatically freeze the minimum balance in an individual’s account having cheque facility. This means a person cannot carry out transaction if the account balance is less than Nu 1,000.

Previous Post

Bhutanese archers bags 6 silver and 1 bronze medal

Next Post

Dissatisfaction over Thimphu-Lhuentse Bus Service

Next Post
Dissatisfaction over Thimphu-Lhuentse Bus Service

Dissatisfaction over Thimphu-Lhuentse Bus Service

Bumthang court withholds proceedings of a larceny case

Bumthang court withholds proceedings of a larceny case

BKA and BIMA at row over recent karate championship

BKA and BIMA at row over recent karate championship

Please login to join discussion

RECOMMENDED NEWS

Community mapping project benefits people in Samdrup Jongkhar

Community mapping project benefits people in Samdrup Jongkhar

7 years ago
3
Toilet buses to ease toilet problems at public gatherings

Toilet buses to ease toilet problems at public gatherings

5 months ago
5.4k

Schools reopen for class VII and VIII- Phuentshogling

4 years ago
3

Paralegals can continue to represent their employing institutions in court

4 years ago
6

BROWSE BY CATEGORIES

  • Accidents (14)
  • Agriculture (439)
  • Announcement (179)
  • Audience Survey Report (1)
  • Business (759)
  • Crime/Legal (370)
  • Culture (48)
  • Development (57)
  • Disaster (57)
  • Economy (289)
  • Education (419)
  • Entertainment (16)
  • Environment (66)
  • Feature (65)
  • Featured (6)
  • Festival (81)
  • GMC (14)
  • Headlines (5)
  • Health (630)
  • Legal (53)
  • Literature (9)
  • Livestock (76)
  • Media (26)
  • Other Stories (5,687)
  • Politics (419)
  • RCSC (1)
  • Recent stories (6)
  • Religion (45)
  • Sci/Tech (712)
  • Social (548)
  • Sports (456)
  • Technology (191)
  • Tourism (22)
  • Uncategorized (13,868)
  • Video (141)
  • Video Story (257)
  • Wildlife (42)

BROWSE BY TOPICS

Tender Announcement Vacancy Announcement

POPULAR NEWS

  • BPC’s investigation rules out transformer short circuit as Damchhu forest fire cause

    Viral video of Bhutanese man assaulted by locals and police in Jaigaon sparks safety concerns

    0 shares
    Share 0 Tweet 0
  • Gelephu Mindfulness City opens recruitment drive for Bhutanese professionals

    0 shares
    Share 0 Tweet 0
  • A centenarian’s recipe to longevity

    0 shares
    Share 0 Tweet 0
  • 40 companies risk closure over failure to submit financial reports

    0 shares
    Share 0 Tweet 0
  • Post-mortem confirms foul play: Progress in investigation of 24-year-old woman’s death

    0 shares
    Share 0 Tweet 0
BBSCL

Bhutan Broadcasting Service (BBS) is Bhutan’s primary national broadcaster, delivering diverse news and entertainment in multiple languages, fostering cultural understanding and public knowledge.

Follow us on social media:

Recent News

  • Lead exposure may be contributing to high anaemia levels among children in Bhutan
  • MoIT imposes moratorium on issuance of taxi driving licence
  • Book on temples and monasteries of Trongsa’s Drakteng wins Dzongkha Booker Prize
  • Shumar Cheden Tshephel Detshen becomes self-reliant with own milk processing unit
  • Fire risk from phones at fuel depot low but never non-existent

News Category

  • Accidents
  • Agriculture
  • Announcement
  • Audience Survey Report
  • Business
  • Crime/Legal
  • Culture
  • Development
  • Disaster
  • Economy
  • Education
  • Entertainment
  • Environment
  • Feature
  • Featured
  • Festival
  • GMC
  • Headlines
  • Health
  • Legal
  • Literature
  • Livestock
  • Media
  • Other Stories
  • Politics
  • RCSC
  • Recent stories
  • Religion
  • Sci/Tech
  • Social
  • Sports
  • Technology
  • Tourism
  • Uncategorized
  • Video
  • Video Story
  • Wildlife
  • Webmail
  • Contact Us
  • About BBS
  • Privacy & Policy

© 2024 BBSCL. All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • Business
  • Politics
  • Sports
  • Education
  • More
    • Announcement
    • Audience Survey Report
    • Programme
    • Radio Dzo-Channel Schedule
    • Radio Mix-Channel Schedule

© 2024 BBSCL. All rights reserved.