Neutral impactStocks
Bank cut Rs 5.89 crore FD rate from 7.75% to 3.5%; Court orders higher interest
Times of India 1 hr ago·12 Oct 2026, 3:35 pm
Initially, the FD earned interest at rates of 7.75%, 8.25% and 7.75% over different periods. However, from January 30, 2018, the bank lowered the rate to 3.5%. Challenging the reduction, the deposit holder approached the court again, arguing that the bank had cut the interest rate without any valid reason or justification.
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