Delhi

New Delhi

CC/31/2010

Mahender Kumar Agarwal - Complainant(s)

Versus

M/S. The Bank of Rajasthan Ltd. - Opp.Party(s)

22 Apr 2015

ORDER

CONSUMER DISPUTES REDRESSAL FORUM-VI

(DISTT. NEW DELHI), ‘M’ BLOCK, 1^STFLOOR,

VIKAS BHAWAN, I.P.ESTATE,

NEW DELHI-110002.

 

Case No.CC/31/10                 Dated:

In the matter of:

1. SH. MAHENDRA AGARWAL

RZ-615, MAIN ROAD,

PALAM, NEW DELHI

                 ……..COMPLAINANT

 

VERSUS

 

1. THE BANK OF RAJASTHAN LTD.,

82, JANPATH, CONNAUGHT PLACE,

NEW DELHI.

 

2. THE BANK OF RAJASTHAN LTD.(R/O)

E-17, 2^ND FLOOR, SOUTH EXTN.-II

NEW DELHI-05

 

3. THE BANK OF RAJASTHAN LTD

E-17, 2^ND FLOOR, SOUTH EXTN.-II

NEW DELHI-05

………. OPPOSITE PARTIES

 

ORDER

President:  C.K. Chaturvedi

The facts of the complaint are that complainant had taken a loan of Rs.10 lakhs on 2.9.05 which was based on construction Linked to be disbursed till 11.5.06, carrying interest of 7.75 p.a. (floating).  The grievances is that though bank has disbursed all loans but it is charging higher rate of interest from the complainant, while with other new customers, it is charging less.

The OP in its reply has stated that rate fixed was floating rate and time to time the rate is charged depending on cost to the bank.  The Bank also brings out new schemes to attract consumers, by offering the new rates, to get business, which is subject to RBI policies.  It has denied any disparity.

We have considered the rival case and do not find any restrictive practice or deficiency on the part of OP, in the loan granted to complainant, who has admitted that it is a floating rate. The Bank in its business is entitled to attract business by offering lower rates at its cost, and same does not entitled the complainant to re-fix his old loan rates. The complaint is dismissed.

File be consigned to record room.

Copy of the order be sent to the parties free

of cost.

Pronounced in open Court on 22.04.2015.

 

 

(C.K.CHATURVEDI)

PRESIDENT

 

 

 

(S.R. CHAUDHARY)         (RITU GARODIA)

MEMBER                          MEMBER