CONSUMER ACTION GROUP Vs. RESERVE BANK OF INDIA

JUDGEMENT

(1.) This is a Public Interest Litigation filed by the Consumer Action Group under Sec.17 read with Sec.12 of the Consumer Protection Act.

(2.) The brief facts of the case are these:-

(3.) The 1st opposite party is the Reserve Bank of India. It is contended by the 1st opposite party that it has not fixed the service charges of the banks nor has it issued by directive or guidelines to the banks in this regard. The Reserve Bank of India has not considered it necessary or expedient in public interest or in the interest of depositors to issue any specific directions to banking institutions. It has been considered necessary to leave the discretion to the banks to fix the rate of service charges taking into account various factors like the cost of inputs in relation to the service rendered. Accordingly, the banks are competent individually or collectively through their associations or committees to decide the service charges for various services offered by them, the complainant has no fundamental right or legal right to challenge the service charges fixed by the banks. In any event, the Reserve Bank of India is not liable as it has not fixed the service charges. The Reserve Bank of India is not rendering any service to the complainant and the complainant is not therefore a consumer as regards the Reserve Bank of India.