NCDRC exceeded jurisdiction by capping interest on credit card dues: Supreme Court

The Supreme Court ruled that the NCDRC exceeded its jurisdiction by capping interest rates on credit card dues in a recent case. The NCDRC had set an interest cap on credit card balances, which was challenged by financial institutions. The Supreme Court held that the NCDRC did not have the authority to impose such caps, reaffirming that such decisions are outside the scope of the Consumer Protection Act. The ruling strengthens the boundaries of the NCDRC’s powers and ensures that financial agreements are not unduly altered by external regulatory interventions.