SC sets aside NCDRC order barring banks from levying 30% rate on credit card dues
Financial Express Chennai|December 21, 2024
THE SUPREME COURT on Friday set aside an order of the National Consumer Disputes Redressal Commission (NC-DRC) which barred banks from charging more than 30% interest on credit card dues.
ANANTHAKRISHNAN G

New Delhi, December 20

A bench of Justices Bela M Trivedi and Satish Chandra Sharma reversed a 2008 decision of NCDRC that held that it was an unfair trade practice from the part of banks to charge credit card users more than 30% interest rate during delayed payments.

This story is from the December 21, 2024 edition of Financial Express Chennai.

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This story is from the December 21, 2024 edition of Financial Express Chennai.

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