The
Supreme Court has rightly taken note of dishonour of cheques due to
mismatch of the drawer’s signature with specimen signature available
with the bank. Signature variation with mala fide intention must be
viewed seriously and the drawer of such cheques should be punished.
However, in most cases, the signature may vary due to ageing of the
account holder. In such cases, the bank must issue a notice to the
customer or, if notice to individual customers is not possible, issue a
paper notification and advertise in the media with standing instructions
to customers to change their signatures in bank records once every 2-3
years. Clearance of cheques issued by account holders who do not comply
with the requirement may be put on hold till they change signature in
bank records.
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