Report loss of cheque to your bank immediately and give Stop Payment instruction to them. Do not issue cheques without adequate balance in the account or arrangements to pay. Dishonour of cheque for insufficiency of funds or exceeding amount arranged to be paid, is a criminal offence punishable with imprisonment for a period upto one year or with fine which may extend to twice the amount of the cheque. A Savings bank account is the most common operating account for individuals and others for non-commercial transactions. Banks generally put some ceilings on the total number of withdrawals permitted during specific time periods.
Banks also stipulate certain minimum balance to be maintained in savings accounts.
Banks as a rule do not give overdraft facility in a saving account, but allow occassional overdrawings to meet contingencies. Banks are required to know true identity of the person wanting to open an account. Banks also seek introduction of the person from an existing account holder. In terms of government notification w.e.f. It helps in settlement of dues in the event of death of the account holder.