Supreme Court Directs RBI to Alter Disclosure Policy

  • On 26th April, 2019, the Supreme Courtgave the Reserve Bank of India (RBI) a last opportunity to withdraw a November 2016 Disclosure Policy to the extent to which it conceals information under the Right to Information Act, including the list of willful defaulters and annual inspection reports.
  • The court had held that the RBI is accountable to the general public and cannot withhold information under the defence of trust with the financial institutions.

Supreme Court’s Directions

  • Central bank has been told to share the information of annual bank inspection reports.
  • RBI is duty bound under the law to disclose information sought under ....
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