Date of Filing:25.11.2009<br /> Date of Order: 10.02.2010<br /> <br /> <br /> <br /> BEFORE THE II ADDITIONAL DISTRICT CONSUMER DISPUTES REDRESSAL FORUM SESHADRIPURAM BANGALORE-20<br /> <br /> Dated: 10TH DAY OF FEBRUARY 2010<br /> <br /> PRESENT<br /> <br /> <br /> <br /> Sri S.S. NAGARALE, B.A, LL.B. (SPL.), President.<br /> Smt. D. LEELAVATHI, M.A.LL.B, Member.<br /> Sri BALAKRISHNA. V. MASALI, B.A, LL.B. (SPL.), Member.<br /> <br /> COMPLAINT NO: 2773 OF 2009<br /> <br /> Umesh Murthy N.<br /> NO. 6, 4th Main Road<br /> Sreekanteshwara Nagar<br /> Nandini Layout Post<br /> Bangalore 560 096 Complainant<br /> V/S<br /> Legal Officer<br /> Debt Management / Manager<br /> ICICI Bank Ltd.<br /> ICICI Bank Tower, # 1<br /> Commissariat Road<br /> Bangalore 560 025 Opposite Party<br /> <br /> ORDER<br /> By the President Sri S.S. Nagarale<br /> <br /> This is a complaint filed by the complainant under Section 12 of the Consumer Protection Act.<br /> The facts of the case are that the complainant using credit card for past two years. Opposite party bank has applied heavy interest. Complainant sent representation to the opposite party requesting to allow him to pay the dues on installment basis with nominal interest. Complainant is a customer of the opposite party bank from last two years. The complainant is permitted to pay the credit amount on installment basis. Therefore, complainant submitted opposite party may be directed to receive the credit amount on installment basis and reduce the rate of interest as per RBI guidelines. <br /> 2. After admitting the complaint notice issued to opposite party. Notice was served on opposite party. When the case was set for appearance of opposite party on 06.01.2010, nobody appeared on behalf of opposite party. Therefore, opposite party placed as exparte.<br /> 3. Arguments of advocate for complainant heard. Perused the documents and pleadings.<br /> 4. The learned advocate for the complainant submitted that complainant is ready to pay the credit card dues to the opposite party. The only request of the complainant is to direct the opposite party to receive the amount by way of installment. The learned advocate for the complainant further submitted that the opposite party bank has charged abnormal and exorbitant rate of interest and submitted that opposite party bank cannot charge interest more than the RBI guidelines. Therefore, he submitted that opposite party bank may be directed to take the interest as per the RBI guidelines. Both the submissions made by the learned advocate for the complainant is quite fair, just and reasonable. There is nothing wrong in directing the opposite party to receive the credit card dues from the complainant by way of installments. It is also quite just, fair and reasonable to direct the opposite party to charge the interest as per RBI guidelines. No bank or financial institutions permitted in law to charge interest more than the RBI guidelines. Therefore, these two requests of the complainant can be allowed. The opposite party has not appeared and contested the matter. Whatever the case put up by the complainant has gone unchallenged. Therefore, I proceed to pass the following:<br /> ORDER<br /> 5. The complaint is allowed. The opposite party bank is directed to receive credit card dues from the complainant on the basis of installment i.e. Rs. 3,000/- p.m. till full payment. The opposite party bank is also further directed not to charge interest on the credit card dues more than the RBI guidelines.<br /> 6. Send the copy of this Order to both the parties free of costs immediately. <br /> 7. Pronounced in the Open Forum on this 10TH DAY OF FEBRUARY 2010. <br /> Order accordingly,<br /> <br /> PRESIDENT<br /> We concur the above findings.<br /> <br /> MEMBER MEMBER<br /> <br />