Indian Bank Term Deposit Penalty Case: CCI Finds No Section 4 Violation

A. Ram Babu Vs Indian Bank (Competition Commission of India) Introduction: The Competition Commission of India recently addressed a complaint by Mr. A. Ram Babu against Indian Bank regarding the imposition of penalties for premature closure of term deposits. The commission’s decision sheds light on the alleged violation of Section 4 of the Competition Act, 2002. Background and Allegations: Mr. A. Ram Babu filed a complaint against Indian Bank, accusing it of violating Section 4(2)(a) and Section 4(2)(b) of the Competition Act. The allegations stemmed from penalties imposed by Indian Bank...