MRTPC orders probe into banks' credit card 'business'

Alarmed by reports that credit card companies have collected over Rs 6,000 crore in a decade from customers by way of fines and late fee, India's anti-monopoly watchdog has ordered a probe into the fees levied by them.

The Monopolies and Restrictive Trade Practices Commission (MRTPC) had asked the Director General of Investigation and Registration (DGIR) to probe the issue and report back, an official source said.