Returned cheque with insufficient fund, penalty deducted

i had submitted a cheque on 21 oct 2017 in bank so that the funds from other account be transferred to my local bank. on monday morning i came to know that my account is deficient of 30000/ so i deposited the same by 11am so that my cheque be honored. however on tuesday i..e 24oct i got a call from the bank that my cheque has been returned due to insufficient funds, i told them i have already deposited the requisite amount. he agreed to present the same cheque which was returned for insufficient sum, how ever a penalty of 295/ have been deducted from my account. i want to know can bank deduct the penalty when the same cheque has been honored. thankyou