Monopolies and Restrictive Trade Practice Commission on Tuesday issued enquiry notices to leading private lenders ICICI Bank, Citibank and HSBC on complaints regarding violation of norms in their credit cards business.
An MRTPC Bench comprising Justice O P Dwivedi and M M K Sardana issued the Notice of Enquiry (NOE) and directed the banks to file their replies in four weeks.
The notices followed the report of the Director General of Investigations and Registrations (DGIR), the investigative arm of the Commission, which had recommended action against these banks for making false promised to customers and violating RBI guidelines.
However, when contacted, an HSBC spokesperson said: "We have not yet received any notice from MRTPC. If we do, we will certainly examine it and respond to their query."
The spokesperson said the bank was conscious of the need to maintain transparency in business dealings and endeavours to offer the highest levels of customer service possible.
Read more in DNA Money article.
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