Patna HC issues notices to RBI, SBI and Centre
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Last Updated: Monday, August 09, 2010, 22:20
  
Patna: The Patna High Court today issued notices to RBI, SBI and the central government to file their respective replies on a PIL complaining "opressive and capricious acts" of insurance companies in connivance with banks.

A division bench of Chief Justice Rekha M Doshit and justice Jyoti Sharan ordered issue of the notice on the PIL filed by S N Singh, an advocate of the court.

The PIL had alleged that SBI and its subsidiary SBI Life Insurance force customers to take insurance policies when approached for loans.

"SBI compels the needy persons to buy an insurance policy for a loan facility to avail hefty commission on deposit of first premium and non-collection of second instalment finally leads to abrupt closure of the insurance scheme," he alleged.

PTI


First Published: Monday, August 09, 2010, 22:20


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