President gives assent to Negotiable Instruments (Amendment) Ordinance, 2015
President Pranab Mukherjee gave his assent to Negotiable Instruments (Amendment) Ordinance, 2015. The ordinance amends Negotiable Instruments Act, 1881.
Earlier in June 2015, Union Cabinet had recommended promulgation of this ordinance to the President. The ordinance will help to tackle issues related to cheque bounce cases and allow filing of cheque bounce case at the place where the cheque was presented for clearance and not at the place of issue.
It will benefit around 18 lakh people facing cheque bounce cases across the country.
Union government had taken ordinance route after Negotiable Instruments (Amendment) Bill, 2015 was not able to pass in Rajya Sabha in winter session of Parliament after it was passed by the Lok Sabha.
Month: Current Affairs - June, 2015