https://www.taxtmi.com/caselaws?id=763941 The text explains that a consumer forum complaint against banks failed because the complainant organisation lacked maintainable locus for representative litigation, the forum could not enter the Reserve Bank of India's statutory domain or impose a ceiling on credit card interest, and it could not rewrite disclosed contractual terms governing card transactions. It also states that charging interest under RBI circulars did not amount to an unfair trade practice absent deception, misrepresentation, or another legally recognised statutory violation. The overall effect was that consumer forum directions limiting interest and altering banking terms could not stand in law. en-us Fri, 20 Dec 2024 00:00:00 +0530 Tue, 31 Dec 2024 22:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=763941 The text explains that a consumer forum complaint against banks failed because the complainant organisation lacked maintainable locus for representative litigation, the forum could not enter the Reserve Bank of India's statutory domain or impose a ceiling on credit card interest, and it could not rewrite disclosed contractual terms governing card transactions. It also states that charging interest under RBI circulars did not amount to an unfair trade practice absent deception, misrepresentation, or another legally recognised statutory violation. The overall effect was that consumer forum directions limiting interest and altering banking terms could not stand in law. Case-Laws Indian Laws Fri, 20 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=763941