Going Against SC’s Order, RBI To Not Disclose RTI Queries On Bank Audits

The Logical Indian Crew India

April 5th, 2019 / 10:35 AM

RBI RTI Audit Bank SC

Image Credit: RTI, Live Mint

The country’s central banking institute, the Reserve Bank of India is likely to challenge the applications under the right to information (RTI) asking audit and inspection reports to banks, reported The Times of India. By taking a stand, RBI is standing against the Supreme Court’s decision which supported and ruled in support for disclosing the information. The RBI swerved the apex court’s decision and planned to share information only with the petitioners and not on any public domain.

Shailesh Gandhi, the former central information commissioner told The Times Of India that he had to take the final call on 10 cases, which were contested by the RBI in the Supreme Court. He further said that the apex court revoked RBI’s claims and instead produced long reasoning as to why no change was required. However, the RBI only accepted to disclose information pertaining to a particular case and not others.

He further said that as RBI is not boding well with the Supreme Court’s decision of disclosing information, RTI applicants have lodged contempt petition against the RBI. Further frowning upon the current scenario he said: “If RBI is allowed this, every public authority can say that every case can go to Supreme Court”.

Numerous petitions seeking information on the various ground such as bank defaulters’list, auditor reports and penalties levied on banks is being faced by The RBI. RBI is in differ to produce the information despite earlier orders.


Raghuram Rajan against RTI questioning defaulters

Three years ago, the then RBI governor Raghuram Rajan had said that RBI was not ready to disclose information of defaulters as it might have a negative impact on entrepreneurship and chill business activity. He further said that a layman reading the list of defaulters would not grasp the minor details. He noted that personal loans such as credit cards will also come under the defaults.

Girish Mittal and Subhash Chandra Agarwal have filed a petition against RBI’s withholding information while citing the Supreme Court judgement in the RBI versus Jayantilal Mistry case. In the RBI versus Jayantilal Mistry case, the apex court had asked RBI to uphold public interest and not just that of the bank. After the RBI failed to stick to that judgement, the petitioner filed a contempt petition against RBI.

However, the RBI’s counsel backed RBI and said that the judgment in the Jayantilal cause would apply only to parties in that judgement.


Also Read: Know Your Rights – BookMyShow Doesn’t Have Authority To Charge Internet Handling Fee: RTI


Contributors

Written by : Debarghya Sil

Edited by : Shraddha Goled

Related Stories

RBI RTI Audit Bank SC

Going Against SC’s Order, RBI To Not Disclose RTI Queries On Bank Audits

After Party Worker’s Unscripted Question Causes Embarrassment, PM Modi To Take Only ‘Filtered’ Queries

CIC Slams PMO And RBI

CIC Slams PMO And RBI, Asks To Disclose Wilful Defaulters List And Raghuram Rajan’s Letter On Bad Loans

Viral Acharya

Govt Plays T20 While RBI Plays Test Match: RBI Deputy Governor’s Speech Raises Questions On Autonomy

IIT Guwahati Asks Anand Super 30

Disclose Names Of IIT JEE Qualifying Candidates: IIT-G Students Demand In A PIL Against ‘Super 30’ Founder Anand Kumar

CIC Jan Dhan Yojna

Disclose The Demonetised Currency Amount Deposited In Jan Dhan Accounts: CIC Asks RBI

Latest on The Logical Indian

News

All You Need To Know About Successful Launch Of Chandrayaan-2, India’s Second Moon Mission

News

All You Need To Know About Successful Launch Of Chandrayaan-2, India’s Second Moon Mission

My Social Responsibility

My Story: “I Arranged My Own Intercaste Marriage & Helped 150 Other Such Couples Get Married”

News

In A Peculiar Bid To Combat Water Crisis, UP Assembly Adopts Half Glass Water Policy

Exclusive

Bihar Flood: This Group Of Student Volunteers Are Extending Help Flood Victims

Get Inspired

#SareeTwitter: Saree As A Tool Of Revolution, Power & Politics

x

Stories that deserve attention, delivered to your inbox!

Handpicked, newsworthy stories which deserve the attention of a rational generation.