A.P.BANK DEPOSIT COLLECTORS ASSOCIATION & ANR. vs STATE BANK OF INDIA & ANR.

The Supreme Court addressed the legality of the State Bank of India's Circular dated 4.6.2001, which discontinued the Janata Deposit Scheme introduced in 1971. The Court held that the Bank's decision was valid due to the scheme's non-viability and its contribution to frauds, thereby dismissing the writ petitions seeking to continue the scheme. The judgment emphasized the Bank's discretion in policy decisions related to financial schemes under its purview.