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Judgment
The petitioner took a loan of Rs.3 lakhs from the respondent ICICI Bank for purchasing a car. A sum of Rs.2,93,283/- was disbursed to her by the Bank after adjusting one EMI. The said loan was repayable in installment of Rs.6,717/- per month. The interest according to the complainant was agreed at 8.9% whereas according to the Bank it was stated to have been charged at 12.3% per month. Being aggrieved from the rate of interest levied by the Bank, the petitioner approached the concerned District Forum by way of a consumer complaint.
The complaint was resisted by the Bank on the ground that it had charged only agreed interest and that the agreement was signed by the complainant/petitioner after duly going through the same.
The District Forum vide its order dated 18.4.2011 directed the respondent Bank to reschedule the loan taken by the petitioner/complainant with interest @ 8.9% p.a. on reducing balance basis. The Bank was also directed to pay Rs.20,000/- as compensation and Rs.5,000/- as cost of litigation to the petitioner/complainant.
Being aggrieved from the order passed by the District Forum, the respondent Bank approached the concerned State Commission by way of an appeal. Vide impugned order dated 2.6.2016, the State Commission allowed the said appeal and consequently dismissed the complaint. Being aggrieved, the petitioner/complainant is before this Commission by way of this revision petition.
It is an admitted position that the complainant/petitioner is an educated person she being a school teacher in Ramjas School, Pusa Road. It is not likely that the complainant/petitioner despite being an educated person would sign blank loan documents while availing the loan facility from the Bank. Even otherwise, the Bank would charge interest only at the rate which they notify for a particular kind of transaction and there is no evidence that at that time the loan was taken by the petitioner/complainant, the respondent Bank was charging interest on car loans at 8.9% per annum.
For the reasons stated hereinabove, I find no merit in the revision petition and the same is accordingly dismissed with no order as to costs.