On November 17, 2025, the Allahabad High Court ruled that banks can’t retrospectively lower the FD rate after it has been issued since FD investors have created these FDs based on the interest rate promised on the FD receipt. Legally speaking, the court stated that such a one-sided change in the agreed FD rate breaches the established laws that govern the contractual obligations between a bank and its deposit holders.

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This judgement in the background of Mr. Jain, along with his mother Smt. Jain, and his late father, who was a retired employee of the Oriental Bank of Commerce and passed away in 2016, having booked eight FDs with the bank.

These fixed deposit receipts (FDRs) were set u

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