What are the key changes?

• Decriminalization of cheques issued without funds.
• Criminalization of bounced cheques due to insufficient funds confined to cases of fraud, forgery and bad faith.
• Partial payment of cheque becomes mandatory.
• Banks must pay drawee the partial amount from the account if the amount in the account is less than the value mentioned in the cheque unless drawee rejects it.
• New amendments replace decriminalization with preventive measures.
• Amendments include deterrent alternative penalties to reduce misuse of cheques.
• Amendments will expedite the collection of cheque value in a more effective manner.