1. The petitioner, through this public interest litigation, seeks quashing of the communication, dated 03.05.2012, addressed by the Reserve Bank of India to the petitioner.

2. The petitioner had earlier filed a writ petition in W.P.(MD)No.2206 of 2012, seeking to raise the issue of allegedly exorbitant interest rates being charged from borrowing public by the Non-Banking Financial Companies (NBFCs), more specifically the 4th and the 5th respondents. A Division Bench of this Court, by order dated 24.02.2012, was not inclined to entertain the petition as a Public Interest Litigation but, at the same time, felt that the issue raised was a laudable one and thus the statutory bodies, like the Reserve Bank of India, who are to regulate non-baking institutions, are to examine the matter and the petitioner was given liberty to do so. The petitioner, thus, addressed a letter, dated 25.01.2012, to the Governor, The Reserve Bank of India, raising the same issue, to which the impugned reply, dated 03.05.2012, has been sent in the following terms:

"2. In this connection we advise that as per the extant policy, the Reserve Bank of India is not regulating/fixing the interest rates to