Court Orders Higher Interest After Bank Cuts FD Rate to 3.5%
A bank initially offered fixed deposit (FD) interest rates of 7.75%, 8.25%, and 7.75% over different periods. From January 30, 2018, it reduced the rate to 3.5%. The deposit holder challenged this cut in court, arguing the bank lowered the rate without valid reason. The court ordered the bank to pay a higher interest rate.
TOI Business·




