July 25, 2018:

On Wednesday, Chhattisgarh HC directed the Banks to ensure charges levied by them on multiple transactions and other services they offer to customers be "uniform and reasonable".

Division Bench of HC comprising of Chief Justice Ajay Kumar Tripathi and Justice Prashant Kumar Mishra issued order on a PIL filed by an Advocate Saleem Kazi.

Petitioner challenged notifications issued by various banks on transaction charges and minimum Monthly Average Balance (MAB) in the bank accounts. The court though didn't comment on the minimum MAB.

While speaking to Indian Express, Advocate Kazi stated that,"High Court affirmed that there should be uniformity and reasonableness in the charges raised by the banks. We have cited about the wide disparity in the charges imposed by different banks to their customers. Earlier Reserve Bank of India (RBI) has filed its response before High Court stating that Banks do not need its approval for imposing charges on their customers".

In September, 2017, High Court has issued notices to Central Government, RBI, SBI, ICICI Bank, Axis Bank, Ltd, HDFC Bank Ltd on the PIL.

Petitioner had contended that instructions issued by Respondent banks and the actions initiated by them are in serious violation of RBI Act 1934 on banking regulations and further violates the Constitutional rights granted under the Article 19 (1)g, Article 21 and Article 300A.

Source The New Indian Express

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