Kathmandu. Due to the recent economic crisis, check bounces have increased rapidly in Nepal. Which has also increased the number of people making complaints under banking offences.

In 8 months of the current financial year 2079/80, checks worth 7 billion 42 crore 7 lakh 27 thousand rupees have been bounced. According to the data obtained from the Nepal Police, 6,422 cases of check bounce were registered during that period, which is the highest so far. This issue has increased with the increase in check transactions. According to the police, when the check was not cut, the amount in the bank account where the check was cut was insufficient.

During the past years, check bounces were less than this. However, the issue of check bounce has increased in eight months this year based on the number and amount. Nepal Police Central Spokesperson DIGP Poshraj Pokharel said that there are more check bounce complaints from people who charge interest and deal with real estate and business.

According to him, foreign nationals have also been arrested in check bounce. In eight months of the current year, 4 foreign nationals were arrested in the case of check bounce. During that period, Nepalese have arrested 914 men and 156 women. Spokesperson Pokhre said check bounces are also high due to the impact of the financial crisis. He said, "In the course of business transactions, there has been an increase in the practice of settling transactions and paying interest or taking a check instead of the promised amount." Lately, check bounces are more due to financial crisis.

According to the police, some people are even facing punishment for bounced checks. If the check given for payment is returned from the bank without being paid, it is considered as 'cheque bounced'. When the account holder pays someone through a cheque, the check bounces if there is not enough money in the account holder's account or if the check is not signed.