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narendra.s.p (Chief Manager(Law))     20 July 2011

interest oncredit card delayed payment

A landmark judgment was delivered by the

NATIONAL CONSUMER DISPUTES REDRESSAL COMMISSION in

Complaint Case No. 51 of 2007 filed by “Awaz”,PunitaSociety,Ambawadi,  “Jagrut Nagrik” & Pradeep Kumar Thakur             Against 1.Reserve Bank of India,2.Hong Kong and Shanghai Bank 3.American Bank  4.Citibank, N.A. &,5.Standard Chartered Bank,

           

This case was decided on 07/07/2008 against the Banks charging high interest on credit card delayed payments. However the operation of the judgment was subsequently stayed by the Supreme Court.

 

I would like to know the outcome of the decision of the Supreme Court or if the matter is still pending the case No and present position in the Supreme Court.



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