DIST. CONSUMER DISPUTES REDRESAL COMMISSION
NORTH 24 Pgs., BARASAT.
C.C. No.151/2022
Date of Filing: Date of Admission: Date of Disposal:
26.06.2019 04.07.2019 28.02.2023
Complainant/s:- | SANJIBAN ROY, S/o Sree Sajal Roy, residing at Vill. Habra Ashutosh Colony, P.O. Hijalpukuria, P.S. Habra, District North 24 Parganas, Pin – 743271 = Vs = |
Opposite Party/s:- | The Manager, Bajaj Finserv, 1201, 12th floor plot G-1, & EP & GP, Sector V, Bidhan Nagar, Kolkata – 700 091, P.S. Bidhan Nagar. |
P R E S E N T :- Smt. Monisha Shaw …………………. Member.
:- Sri. Abhijit Basu …………………. Member.
JUDGMENT/FINAL ORDER
This complaint is filed by the Complainant u/s 35 of the Consumer Protection Act, 2019 as amended upto date alleging deficiency in service as well as unfair trade practice against the OPs as the OPs did not take any step to redress his grievance till filing of this complaint.
The Complainant stated that he availed a personal loan through online being loan account No.410PETGG391710 on 24.09.2020 amounting to Rs.2,81,000/- from the Opposite Party and the interest will be imposed the said loan @11%. After one month later when the Complainant received the papers regarding loan then he noticed that the rate of interest has imposed on the said loan @ 28% p.a and the E.M.I has been fixed upon the Complainant at Rs.6571/- per month for 72 equal monthly instalments. From the statement of account dated 24.09.2020 to 10.12.2021 the Complainant came to know that on and from 02.11.2021 the due instalment has been fixed at Rs.8,750/- per month and it is beyond the Guide lines of R.B.I.
The complainant further stated that he paid an amount of more than Rs.75,000/- to the Opposite party. On 17.11.2021 and 21.11.2021 the Complainant gave two representation through Email with a request to rectify the rate of interest and be fixed @11% p.a. but the O.P did not considered.
Having no other alternative the Complainant lodged a complaint at the Habra Police Station for taking steps to solve the matter but in vain. Then the Complainant lodged a complaint to the Assistant Director, C.A.&F.B.P. Salt Lake Regional Office, Kolkata7,00,054 for mediation but the case is not settled and having no other alternative the Complainant lodge the complaint case on 17.05.2022 before the Ld. District Consumer Disputes Redressal Commission at Barasat, North 24 Parganas.
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C.C. No.151/2022
Prayer of the Complainants:-
- To issue notice upon the O.P. for their appearance and Show Cause.
- Direction upon the Opposite Party to fix up the interest @ 11% p.a. as per R.B.I. guidelines over the loan amount of the Complainant.
- Direction upon the Opposite Party to pay the sum of Rs. 50,000/- only as compensation towards mental agony, pain and unnecessary harassment.
- Direction upon the Opposite Party to pay the sum of Rs. 15,000/- towards litigation cost.
- Any other relief / reliefs.
Following issued were framed for the purpose of decision:-
- Whether the complaint is maintainable or not?
- Whether the Complainant is entitled to get relief / reliefs in this case.
Decision with reasons:-
Considering the facts and circumstances as well as nature and character of this case all the points are interlinked to each other and as such all the points are taken up together for consideration for the sake of brevity and convenience.
On perusal of the materials along with the supporting affidavit related to documents available in the case record as well as hearing of argument by the Ld. Advocate for the Complainant, it is revealed that the Complainant had taken the loan from the Bajaj Finserv on 24/09/2020 through online being Loan Account No. 410PETGG391710 of Rs. 2,81,000/- from the Opposite Party and out of total amount the Complainant paid an amount of Rs. 73,875/- to the Opposite Party.
Here the status of the OPs is service provider and the Complainant being a customer of the O.P so the Complainant becomes a consumer as per Consumer Protection Act, 2019.
The Complainant resides at Vill. Habra Ashutosh Colony, P.O. Hijalpukuria, P.S. Habra, District North 24 Parganas, Pin – 743271 and the claimed amount does not exceed the pecuniary limit of this Commission. Therefore, this Commission has ample power to try this case.
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C.C. No.151/2022
We have perused the complaint as well as Examination-in-Chief on affidavit filed by the Complainant. We have perused the copy of the money receipt along with copy of the statement of account which was provided by the O.P member with the supporting affidavit and other documents filed by the Complainant. On perusal of the aforesaid materials it appears that the Complainant paid Rs. 73,875/- on different dates and the Complainant paid as per their version i.e. on 11% but the Opposite Party imposed annualized rate of interest of 28% but as per RBI guideline, it should be fixed on 12% to 12.55%. As such there is deficiency in service on part of the O.P.
It appears from the materials on record filed by the Complainant is that the notification of the Reserve Bank of India is “If a bank is charging in a borrower’s account and interest rate of 12% with quarterly rests, the effective rate is 12.55%.” As per RBI, the average rate on one year MCLR, or the lowest lending rates of scheduled Commercial Banks (SCBs) increased from 7.65% in August 2022 to 7.75% in September, 2022. A consumer can still get a reasonable rate of interest on a personal loan.
The discussed points bear positive results. As such we are of the view that the Complainant is entitled to receive his deposited amount with interest and he is also entitled to other relief/reliefs and that will be reflected in the ordering portion.
Thus all the points are disposed of accordingly.
Fees paid by the Complainant.
Hence,
It is ordered,
That the case being no. C.C./151/2022 be and the same is allowed ex-parte against the O.P.
The Complainant is directed to pay the balance loan amount with 12.55% p.a. (as per RBI guidelines) either within balance tenure or within one year from this day.
The Complainant and the O.P are further directed to comply the order within one (01) year from this day failing which the Complainant may take steps according to law.
Let plain copy of this order be given to the parties free of cost as per CPR, 2005.
Dictated & Corrected by me
Member
Member Member
