- The Supreme Court on 16 December 2015 held that the Reserve Bank of India (RBI) is liable to disclose information about the banks and financial institutions for their action against the loan defaulters including industrialists under the Right to Information (RTI) Act, 2005.
- The Court further ruled that RBI has statutory duty to uphold public interest and not the interest of individual banks.
- It has no legal duty to maximise the benefit of any public sector or private sector bank, and thus there is no relationship of trust between them.
Tuesday, January 19, 2016
RBI liable to disclose information about banks under RTI Act: Supreme Court
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