New Delhi, April 15 -- In India, a bounced cheque can have an immensely negative impact on your overall integrity. It can also have serious legal and financial consequences.

Now, given a single instance of a cheque bounce may not directly impact your credit score, repeated occurrences of such events can indirectly affect your creditworthiness, integrity along with your overall credit profile. This write-up is dedicated towards discussing these concepts only in detail.

A cheque bounce takes place when a person tries to submit i.e., deposit a cheque but their account does not have enough money to cover the total amount of the cheque. Now, one cause of a bounced cheque is a lack of funds in the account of the sender.

On the other hand, a ...