Banks cannot cut interest on court-ordered FDs arbitrarily: Delhi HC
The Delhi High Court ruled that banks cannot arbitrarily reduce interest on fixed deposits created under court orders. The decision arose from a dispute involving Hero Exports and NatWest Markets PLC over a ₹5.89 crore deposit, where the bank cut the interest rate to 3.5% from a higher rate. The ruling emphasizes that any interest reduction must be justified and non-discriminatory.