Supreme Court Allows Banks to Impose 30% Interest on Credit Card Dues

By BPN News Desk December 27, 2024

Finance

The Supreme Court of India has permitted banks to charge interest rates of up to 30% annually on unpaid credit card dues. This ruling reinforces the autonomy of financial institutions while emphasizing the need for transparency in credit card terms for consumers. Key Ruling Details The

Law & Order

Supreme Court: Directors Not Personally Liable for Dishonored Company Cheques

By BPN News Desk December 21, 2024

In a significant ruling, the Supreme Court of India has clarified that directors of a company cannot be held personally liable under the Negotiable Instruments Act if a cheque issued by the company is dishonored. This decision offers a crucial interpretation of corporate and legal accountability, shielding directors from personal prosecution in such cases. Ruling […]

Finance

Supreme Court Removes 30% Cap on Credit Card Late Payment Interest

By BPN News Desk December 21, 2024

In a landmark decision, the Supreme Court of India has removed the 30% per annum interest cap previously imposed on late credit card bill payments. The ruling provides financial institutions greater autonomy in determining interest rates on overdue payments, sparking widespread discussion in the financial and consumer sectors. Interest Rate Regulation Left to Banks The

Law & Order

Supreme Court Lists Key Factors for Alimony Decisions

By BPN News Desk December 12, 2024

The Supreme Court of India has laid out a comprehensive framework for determining alimony in matrimonial disputes, emphasizing fairness and equity in its ruling on the high-profile Bengaluru techie case. This decision follows the tragic death of techie Atul Subhash, which highlighted the emotional and financial challenges linked to such cases. Eight Key Factors for […]