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.
Bu hikaye The New Indian Express Hyderabad dergisinin December 23, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye The New Indian Express Hyderabad dergisinin December 23, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
Shankar's Game Changing Role for Anjali
Ahead of the film's release, Anjali shares insights on her character, challenges, and working with Ram Charan and Shankar
Fragrance for the Senses
Fragrance plays a beautiful role in our lives. For many, the aroma of our surroundings refreshes our minds and uplifts our spirits, turning even the most challenging days into brighter ones.
Music for soul
As we entered the home museum located in Lothukunta, the calming fragrance of sambrani dhoop welcomed us.
SMILES, SPORTS & STARS
HE children smiled as they sprinted as fast as the wind - they were free, strong, and unstoppable just like the tri-colour balloons that had been set free into the skies just a few moments before the inauguration of the sports day at the National Institute for the Empowerment of Persons With Intellectual Disabilities (NIEPID), Bowenpally.
How To Be A Travel Junkie!
This two-day travel festival in Mumbai this week brings together destinations, cultural experiences, food and more to inspire Indian globetrotters.
2025 F1 FAN PACKAGES, FINALLY UNVEILED!
The national carrier of Qatar is set to captivate globetrotters this year in Doha with Formula 1 races and must-see tourist attractions that the destination boasts...
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: De-centralisation 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.
