IN a big relief for credit card issuers who are facing a rising tide of bad loans since the past few quarters (delinquencies are at nearing double-digit mark now; in June 2024 quarter it soared by 110 bps to 7.6%), the Supreme Court, over the weekend, has given them a free hand to set interest rates for late payments, defaults and even on the outstanding dues.
Not that their hands were tied till now--in a strict legal sense they were, but not in practice as even when the matter was subjudice since February 2009, card issuers were regularly increasing their interest rates which now vary from a low of 45% (3.8% per month) to a high of 55% annually or 4.5% per month on certain cards.
هذه القصة مأخوذة من طبعة December 23, 2024 من The New Indian Express Shivamogga.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة December 23, 2024 من The New Indian Express Shivamogga.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
India gets its first-ever glass bridge-over-sea
Situated in Kanyakumari, this new tourist attraction, inaugurated on December 30, has been designed to improve accessibility between the two landmarks while creating the thrilling illusion of walking on water...
Nanjappa Hospital Doctors Carry Out Capsule Endoscopy on 62-Year-Old in Davangere
ANJAPPA Hospitals successfully utilized advanced capsule endoscopy to diagnose and treat a rare case of angiodysplasias causing small intestinal bleeding, demonstrating the hospital's expertise in managing complex medical emergencies with cutting-edge technology.
SA20: Skipper Markram aims a threepeat with Sunrisers Eastern Cape
FRESH from playing a key role in helping South Africa qualify for the third edition of the World Test Championship, Aiden Markram has set his sights on a threepeat with Sunrisers Eastern Cape in the SA20.
BFI Adopts New Weight Classes
The Boxing Federation of India (BFI) is conducting the men's national championships here in 10 weight categories, in line with the classification introduced by the breakaway World Boxing.
AFI's big push: Decentralisation of camps
New-look athletics body's one-of-a-kind policy set to encourage inclusivity & have wider pool of players to pick from
Janssen-sational: TN Dragons pip Team Gonasika
JIP JANSSEN slammed a hat-trick to steer Tamil Nadu Dragons to a tight 6-5 win over Team Gonasika in a high-scoring Hockey India League (HIL) clash here on Wednesday.
Malaysia Open: Prannoy, Sat-Chi Enter Round of 16
HS Prannoy's match, his first since the Paris Olympics, was halted by rain on Tuesday.
Selective application undermines credibility of sports governance
PT Usha and sports ministry are at loggerheads over the Indian Golf Union recognition.
Newcastle FC put one foot in League Cup final
NEWCASTLE took a giant stride towards the League Cup final as goals from Alexander Isak and Anthony Gordon earned a 2-0 semifinal, first leg lead at Arsenal on Tuesday.
SBI Lowers FY25 Economic Growth to 6.3%
The State Bank of India has revised its forecast for India's GDP growth for financial year 2024-25 (FY25) to 6.3%, down from the National Statistical Office's (NSO) projection of 6.4%.
