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03Jan 2025
Supreme Court Upholds RBI’s Authority on Credit Rates
Why in the news? The Supreme Court ruled that only the Reserve Bank of India can regulate credit card interest rates, overturning a 2008 NCDRC order capping rates, and clarified that high rates aren’t “unfair trade practices” under consumer laws. Key Decision Highlights: The Supreme Court ruled that high interest rates on credit card loans …
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