Central bank told to share information on annual bank inspection reports
The RBI is ‘duty bound under the law’ to disclose information sought under the RTI Act, said the Supreme Court
The Supreme Court on Friday ordered the Reserve Bank of India to disclose its annual inspection reports of banks, along with the list of wilful defaulters and information related to them under the Right to Information Act.
The RBI is “duty bound under the law” to disclose information sought under the RTI Act, it said.
The apex court also ordered the RBI to “withdraw its disclosure policy”, which it said is in violation of an order passed by the court in 2015 directing the central bank to disclose information under the provisions of the RTI Act.
It gave the RBI “one last opportunity” to comply with the orders. “Any further violation shall be viewed seriously,” said the bench comprising Justices L. Nageswara Rao and M.R. Shah, who warned that the central bank could face contempt proceedings if it failed to furnish the information.
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