Question
As per RBI guidelines, what is the penalty for a person
whose cheque is dishonoured for insufficiency of funds under the Negotiable Instruments Act?Solution
Section 138 of the Negotiable Instruments Act, 1881, states that dishonour of cheque due to insufficient funds can attract imprisonment up to 2 years or fine up to twice the cheque amount or both.
More Previous Year Paper Questions
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[(sin2a + cos2a} ÷ seca × sina ÷ cosa]
...
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[A] (a²+b²-2)/ 2
[B] (a2-b2<...
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13cos 63 o cosec 27 o - 5cot 56 o cot 34 o 
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