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Bank deducting amount for insufficient fund and clearing sam

(Querist) 27 October 2017 This query is : Resolved 
i had submitted a cheque for transfering my funds from one bank account to another on saturday, however i came to know that the account has only 5,76000/ and where as i have drawn a cheque of 600000/. i deposited the balance 30,000/ on monday itself. On tuesday i got the call from the bank that my cheque has been returned due to insufficient funds and the penalty will be deducted. i told them that requisite sum had been deposited in the bank on monday by 11 am. but the bank official said both the bank will deduct amount to the tune of 300/. however on my persistence the same cheque was again sent for clearance and funds were transferred from the same cheque. i wish to know if same cheque is cleared can he bank still deduct the amount for insufficient fund.
Rajendra K Goyal (Expert) 27 October 2017
In some cities clearing is a continuous process. It seems the cheque was presented before the amount was deposited and was returned.

Banks have right to deduct cheque returned charges if cheque returned other than any of its fault.
Guest (Expert) 28 October 2017
Once a cheque is bounced, both the concerned banks are entitled to charge cheque dishonour charges.

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