(791) P.B. VISHNU ALIAS NAVNEETH VISHNU Vs. THE THRISSUR DISTRICT CO-OPERATIVE BANK LTD. AND OTHERS[NATIONAL CONSUMER DISPUTES REDRESSAL COMMISSION] 08-11-2023
Consumer Protection Act, 1986 — Sections 2(1)(g), 2(1)(d), 13, 14 — Deficiency in service — Unfair trade practice — Bank's offer of 18% interest on fixed deposits was unauthorized by law, as only the Board of Directors, not the Executive Committee, had the power to fix interest rates — Bank acted lawfully in attempting to rectify this error by reducing the interest rate to the legally permissible 15% — Complainant's parents, as guardians, agreed to this reduction, surrendered the original deposi
India Law Library Docid # 2400495