Grievance Redress by Courts in Consumer Finance Disputes

Karan Gulati () and Renuka Sane
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Karan Gulati: National Institute of Public Finance and Policy

Working Papers from National Institute of Public Finance and Policy

Abstract: This paper studies how courts in India have dealt with consumer finance disputes. It presents the organisation of the courts that hear consumer finance cases. It reviews the 60 most cited cases to study the position that courts have taken in banking and insurance disputes. For the cases studied, it finds that courts have generally granted relief to consumers in banking disputes. In the case of insurance, courts have emphasised contractual compliance. This is so even if the contracts themselves were opaque or had unfair terms. The paper also finds that courts award low compensation and take a long time for adjudication. It suggests that courts should put in place systems to facilitate class action suits and bring in specialisation to deal with consumer finance disputes.

Pages: 35
Date: 2021-03
New Economics Papers: this item is included in nep-cta and nep-ias
Note: Working Paper 331, 2021
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:npf:wpaper:21/331

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