If you’ve ever had a cheque bounce, you’re not alone. According to Pune Regional Director Bhujang Khandare, there are around 2,690 cases of cheque bounces every month in Western Maharashtra. And why is this happening? Well, Khandare pointed out some common reasons, such as incorrect dates on cheques, tampering, signature mismatches, and, of course, insufficient funds.
So, what’s the solution to this problem? Khandare suggests that consumers switch to digital payments like ECS, NEFT, and RTGS to avoid these pesky charges and delays. And trust us, you’ll want to avoid them – each bounced cheque comes with a penalty of ₹750 in bank charges, plus a late fee of 1.25% for every unpaid bill it covers.
With a whopping 42.12 lakh low-tension consumers in the region, who collectively pay around ₹1,195.70 crore every month, MSEDCL is really pushing for digital transactions to make things smoother for everyone involved. So, if you want to avoid those penalties and streamline your payments, it might be time to make the switch to digital.
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