Delhi HC Orders Bank to Restore FD Rate from 3.5% to 7.75%
The Delhi High Court ruled in favor of a deposit holder after a bank cut his fixed deposit (FD) interest rate from 7.75% to 3.5%, citing an RBI circular. Justices Avneesh Jhingan and Shail Jain stated the bank must not discriminate between deposits accepted on the same date. The court ordered the bank to pay the highest interest rate on the FD, created by a court order due to a Rs 5.89-crore dispute.
Economic Times··Delhi



