This is to remind all that issuance of cheques with insufficient balance in the account is a criminal offence, punishable as per the Negotiable Instrument Act of the Kingdom of Bhutan 2000 and the Penal Code of Bhutan 2011 and with effect from February 1, 2017 Nu. 300 will be charged for every cheque issued with insufficient fund.
Henceforth, all accounts with cheque facility shall be required to maintain minimum balance of Nu. 1,000. The amount will be reviewed as and when required.
This notification is issued in accordance with Section 9 (c) of the RMA Act 2010 for compliance and shall supersede the earlier circular/notification.