Outdated cheque: Bank returns funds
TIMES NEWS NETWORK
Ahmedabad: 30.12.2021
A nationalized bank returned Rs 50,000 to a depositor that had been withdrawn using a 15-year old cheque.
Mayur Vayeda, a businessman from the Law Garden area on Sunday approached Ellisbridge police with the complaint that someone had withdrawn Rs 50,000 from his account using a 15year-old cheque.
The case seemed to sho- wed negligence on the part of the bank,which allowed the mo- ney transfer with a cheque from 2006. According to Reserve Bank of India (RBI) guidelines of 2012, the validity of a cheque is three months from the date of issuance.
Vayeda, a resident of Thakorbhai Tower in Law Garden, had gone to his bank in Nehrunagar to withdraw Rs 40,000. The banker checked his account and told Vayeda that he did not have sufficient money in the account. Vayeda inquired further and got a bank state- ment, which showed the irregularity.
After the complaint was lodged, the bank in a letter to the complainant, stated that on December 21, due to a technical error, Rs 50,000 had wrongly been debited from his account.
The bank stated that the rectification was made on Monday.
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