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.
Esta historia es de la edición December 23, 2024 de The New Indian Express Bengaluru.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición December 23, 2024 de The New Indian Express Bengaluru.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
KICHCHA SUDEEP BIDS FAREWELL TO BIGG BOSS KANNADA AFTER 11 SEASONS
HE year 2025 marks the end of an era as Kichcha Sudeep officially announces his departure as the host of Bigg Boss Kannada.
Hope beckons as blood cancer therapy launched
OFFERING new hope to patients facing aggressive blood cancers, India launched the first global CAR T-cell therapy for adult B-cell Non-Hodgkin Lymphoma (B-NHL), a kind of blood cancer that affects the lymphatic system.
Siddu's mins miffed with Surjewala, DKS denies
Annoyed over AICC Karnataka in-charge Randeep Singh Surjewala's style of functioning, Chief Minister Siddaramaiah's coterie of ministers is reportedly trying to send a message that they will not budge before him or the party high command, according to sources.
SEBI May Extend Time To Fix MF NAV
To ease the implementation of directions on upstreaming of client funds, the markets watchdog is planning to extend time to stock brokers/clearing members to un-pledge units of overnight mutual fund schemes and place redemption request with funds houses, after the close of market hours.
Experts Oppose Edu Reform Panels Headed by MLAs
The People's Alliance for Fundamental Right to Education (PAFRE) has opposed the Karnataka government's decision to form education reform committees led by MLAs.
GST officials, transporters, mafia form nexus, cause loss of thousands of crores
A massive fraud, involving senior GST enforcement officials, major transporters and an organised mafia, across the country has come to light, reportedly costing the Union government thousands of crores every month.
Dalits not duly represented in higher judiciary
Justice (R) C T Ravikumar, who became the fourth Dalit judge to be elevated to the Supreme Court, retired on January 5 after serving three years in the top court.
Israel Frees 90 Captives; Palpable Relief, Fear in Gaza
AFTER 15 months of collective grief and anxiety, three Israeli hostages left Hamas captivity and returned to Israel, and dozens of Palestinian prisoners walked free from Israeli jails, leaving both Israelis and Palestinians torn between celebration and fear, and stirred modest hopes for ending the Israel-Hamas war.
Sinner beats dizziness, Rune in round four
JANNIK Sinner battled dizzy spells on Monday to reach an Australian Open quarter-final against Alex de Minaur, admitting a long interruption when he accidentally broke the net was \"big, big luck\".
Every Step You Take, They'll Be Watching You
There are many lessons from the work-life balance debate. One is for leaders to watch their words. Another is to recognise the generational shift in attitude towards work
