NEW DELHI: The RBI on Tuesday expressed “grave concern” over disclosure of banking inspection reports through RTI and told the Supreme Court such revelations could run counter to confidentiality clause attached to bank details of individuals and industries and adversely impact the economy.
Opposing the banks and RBI, advocate Prashant Bhushan told a bench of Justices B R Gavai and P S Narasimha that the SC in 2015 had given a clear mandate that the central bank must disclose the banking inspection reports to enable the public to know how it created bad debts and NPAs.
The RBI through senior advocate Jaideep Gupta told the bench that the RBI is supporting the pleas of the banks. “The issue is of grave concern to the RBI. As many as seven statutes mandate banks to maintain confidentiality of banking details pertaining to their customers. But, this appears to be overridden by the requirement under RTI,” Gupta said.
The bench posted the petitions for detailed hearing on September 13.