Don't decriminalise, fix financial limits for cheque bounce: Bank union

The risk of imprisonment for actions or omissions that aren't necessarily fraudulent or the outcome of mala fide intent is a big hurdle in attracting investments

The All India Bank Employees' Association (AIBEA) has suggested fixing of financial limits for attracting the criminal provisions relating to bouncing of cheques in the Negotiable Instruments Act instead of the decriminisalising the offence.

The major union in the banking sector representing about one million bankers also told the government that if mens rea or mala fide and criminal intent is an important criteria, then willful bank loan default should be made a serious criminal offence, which is hitherto being treated and tried under the civil procedure code.

"The Negotiable Instruments Act, 1881, was amended to make the return of