Bank financial information comes under RTI: Supreme Court tells Reserve Bank | Editorji
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Bank financial information comes under RTI: Supreme Court tells Reserve Bank

Apr 29, 2021 15:11 IST | By Editorji News Desk

The Supreme Court while dismissing pleas by banks stated that financial information from lenders is to be provided under the Right To Information Act and that the central bank must not 'protect' the banks 

The apex court while reviving its 2015 judgement dismissed the plea made by 10 banks which means that information regarding bad loans , losses from trading operations, even show-cause notices and fines imposed by RBI all fall under the purview of RTI. 

In its 2015 verdict, the top court ruled that RBI was not in any fiduciary relationship with any bank. “RBI has no legal duty to maximize the benefit of any public sector or private sector bank. RBI has a statutory duty to uphold the interest of the public at large, it said.

National