Civil court has discretion under Order 34 Rule 11, CPC to reduce the contractual rate of interest

Interest:- Civil court has discretion under Order 34 Rule 11, CPC to reduce the contractual rate of interest depending upon the facts and circumstances of each case in spite of the provision of Section 21-A of Banking Regulation Act providing for charging compound interest at contractual rate. (Paras 23 and 24). – State Bank of India, Settipalle Branch, Tirupati rep. by its Chief Manager Vs. P. Veeranarayana – 2014 (1) ALT 714. VILAS V. AFZULPURKAR,j.