https://www.taxtmi.com/caselaws?id=200363 The court upheld a bank's suit for loan recovery with 13% interest per annum, dismissing the defendant's challenge on interest rates. The court adjusted interest calculations post-decree, emphasizing adherence to Reserve Bank-prescribed rates. It restricted banks from charging interest with quarterly rests beyond specified limits, citing the Banking Laws (Amendment) Act, 1983. The appellant's plea on contractual interest rates was rejected, and the court directed the bank to recalculate interest without quarterly rests. The judgment clarified permissible interest rates and mandated bank compliance with Reserve Bank regulations. en-us Thu, 28 Feb 1985 00:00:00 +0530 Tue, 27 Mar 2018 10:04:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=200363 The court upheld a bank's suit for loan recovery with 13% interest per annum, dismissing the defendant's challenge on interest rates. The court adjusted interest calculations post-decree, emphasizing adherence to Reserve Bank-prescribed rates. It restricted banks from charging interest with quarterly rests beyond specified limits, citing the Banking Laws (Amendment) Act, 1983. The appellant's plea on contractual interest rates was rejected, and the court directed the bank to recalculate interest without quarterly rests. The judgment clarified permissible interest rates and mandated bank compliance with Reserve Bank regulations. Case-Laws Indian Laws Thu, 28 Feb 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=200363