Many of us consider check bounce or auto-debit mandate failure as minor banking issues, but the impact can be quite serious. Under the law, if a check bounces and payment is not made within 15 days, there can be a criminal case, fine or even jail under Section 138. The bank charges dishonor charges ranging from ₹250-₹750, while the lender also adds late fee and interest. Missing an EMI can cause the credit score to drop by 50-70 points, making future loans difficult. Repeated bounces are considered a high-risk signal. Informing the lender in time is the safest step.