SATISH KUMAR Vs. STATE BANK OF INDIA

JUDGEMENT

(1.) Delay of 64 days in filing the present revision petition is condoned.

(2.) Shri Satish Kumar, the original complainant before the District Consumer Disputes Redressal Forum, Panipat (District Forum for short), having suffered two adverse orders passed in his complaint resulting in its dismissal both by the District Forum as well as the Haryana State Consumer Disputes Redressal Commission, Panchkula (State Commission for short) has filed this revision petition.

(3.) Facts of the case, in brief, are that the petitioner-complainant had obtained an agricultural loan of Rs.2,40,000/- from the respondent-Bank for the purchase of a tractor. While the petitioner-complainant claims that the loan was given to him initially at the interest rate of 14% per annum, the rate of interest was to be increased or decreased from time to time as per the guidelines issued by the Reserve Bank of India. Though he had deposited a sum of Rs.3,04,500/-, yet the Bank had not squared up his loan account, so he enquired about the matter and was surprised that the Bank had reflected a balance of Rs.61752.71 as due from him. Apprehending that the Bank have not lowered the rate of interest as per the guidelines of the Reserve Bank of India, he made a representation, which met only with lip sympathy. Contending that he suffered financial loss on account of respondent/OP/Bank not adhering to the floating rate of interest, he filed a complaint before the District Forum. The District Forum after considering the evidence produced before it and hearing the arguments of the parties dismissed the complaint, holding as under :-