RBI planning to withdraw non-disclosure policy under Right To Information

After being directed by the Supreme Court, the Reserve Bank of India is planning to step out of its 2016 policy of non-disclosure of information on big loan defaulters under the Right to Information (RTI) Act.

This move will enable the central bank to reveal the annual inspection reports of the lenders and the list of wilful defaulters under the RTI Act.

On Friday, the Supreme Court of India directed the RBI to be duty bound to reveal information pertaining to wilful defaulters. However, the banking regulator has not officially responded to the Supreme Court’s direction so far.

Sources suggest that the RBI would consult on the matter with the Supreme Court to decide its next course of action.

So far, the RBI also did not disclose whether it would right away share the information sought by the RTI applicants or will take time to review the SC order before acting upon it.

As per the order passed by the apex court in 2015, the Supreme Court said that the RBI’s non-disclosure policy was in violation of its order, which directed the central bank to disclose information under the provisions of the RTI Act.

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