Transaction value rejection requires reliable corroboration; refundable VAT is excluded and temporary registration does not defeat new-vehicle exempti...
Appellate jurisdiction remains available where a wrist-worn gold ornament cannot conclusively be characterised as imported baggage at the preliminary ...
Written complaint requirement bars cognizance on police reports for securities offences, while unsupported breach of trust and cheating allegations fa...
Risk-based postal import clearance standardises electronic assessment, document requests, duty realisation and delivery controls at Foreign Post Offic...
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The SC held that the National Consumer Disputes Redressal Commission lacks jurisdiction to interfere with banking operations, which is the exclusive statutory domain of the RBI. It cannot fix a maximum ceiling rate of interest for banks to charge credit card holders or direct banks to charge interest not exceeding 30% p.a., in absence of RBI instructions. Charging interest rates as per RBI circulars/notifications, independent of a standard ceiling, does not constitute an unfair trade practice. The terms of a contract between parties cannot be judicially scrutinized unless arbitrary, discriminatory or mala fide. The impugned judgment interfered with contractual terms and the RBI's regulatory powers, hence was set aside.
The SC held that the National Consumer Disputes Redressal Commission lacks jurisdiction to interfere with banking operations, which is the exclusive statutory domain of the RBI. It cannot fix a maximum ceiling rate of interest for banks to charge credit card holders or direct banks to charge interest not exceeding 30% p.a., in absence of RBI instructions. Charging interest rates as per RBI circulars/notifications, independent of a standard ceiling, does not constitute an unfair trade practice. The terms of a contract between parties cannot be judicially scrutinized unless arbitrary, discriminatory or mala fide. The impugned judgment interfered with contractual terms and the RBI's regulatory powers, hence was set aside.
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