Speaking at a seminar on `Human Rights: Role of Banks in India,’ organised by the Credit Card Holders’ Association of India and the Finance Customers’ Association of India in Bangalore on Saturday, Justice Nayak said that if the complainants provide proper documents of force, muscle power being used and also the usage of filthy language by recovery agents, the Commission would initiate serious action against such banks.

However, Justice Nayak had a word of advice to the forum to create awareness among the credit card holders on prompt repayment and said that he would not entertain `one sided’ complaints.

Rights violated

Using force for recovery attracts provisions of violations of the human right. The Commission had received many complaints in this regard and it was high time that the banks resorted to introspection and undertook recovery as per law. Moreover, the banks should exhibit social responsibility, Justice Nayak added.

Earlier, The Credit Card Holders’ Association General Secretary C V Giddappa charged that the multi-national banks were charging 204 per cent interest on customers, which was unprecedented.

Though the banks said that the Association claims were exaggerated it admitted that the credit card service providers were charging exorbitant interest rate, he said.

A working group was formed which made certain recommendations to stop harassment of the customers. It is estimated that the multi-national banks had made over Rs 6,000 crore with credit card business, Mr Giddappa added.