A National Consumer Disputes Redressal Commission (NCDRC) rule capping credit card interest rates at 30% annually on late bill payments has been overturned by the Supreme Court. A 16-year-old case that asked whether the NCDRC had the authority to set a maximum ceiling on interest rates that lenders may charge credit card holders who failed to make payments on time has been resolved by the verdict. In 2008, the NCDRC said that it was unfair to charge credit card holders interest rates higher than 30% annually for not making their full payment on time. Banks countered that the advisory interest rate is a statutory area that the legislation has designated for the Reserve Bank.