Kotak Bank and IDFC First Bank come with SBI, HDFC Bank, case of making confidential information public | Kotak Bank and IDFC First Bank come with SBI, HDFC Bank, case of making confidential information public

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  • Kotak Bank And IDFC First Bank Come With SBI, HDFC Bank, Case Of Making Confidential Information Public

Mumbai11 hours ago

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Many big banks, including SBI, have opened a front against the Reserve Bank of India i.e. RBI. RBI had directed banks to share information on financial sensitive data under RTI. Which these banks are opposing. SBI, HDFC Bank, Kotak Mahindra Bank and IDFC First Bank have now united in the Supreme Court against the RBI.

People have made RTI Act business: SBI
SBI said that customers have trust in us and how can this information be kept before the general public under RTI. People have made RTI Act a business. This information is confidential under the law, and there is a statutory restriction on it.

Wrong to provide customer details: HDFC
HDFC Bank says that this rule does not apply to private banks. The bank said that if groups like Tata, Birla are looking for funds for the electric car project. In such a situation, it would be wrong to share its information. The bank also said that what a common man has to do with the inspection reports of banks. How can I share sensitive information about my customers and clients under the right of privacy?

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Next hearing will be on 22nd July
In this case, the Supreme Court held that the inspection report can be disclosed under RTI. The next hearing of the case will now take place on July 22. In June, HDFC Bank and SBI filed a petition in the Supreme Court. At that time the Supreme Court had refused to issue an interim order with immediate effect on the directions of the Reserve Bank.

HDFC Bank and SBI had appealed
HDFC Bank and SBI appealed to the Supreme Court. In which it was said that, stay the order of the Reserve Bank under which it has issued instructions to banks that financial sensitive data will also have to be shared under the RTI Act. Banks say that this will affect their business and customer information will also be compromised.

Supreme Court dismisses plea of ​​Punjab National Bank
Earlier in July, the Supreme Court had dismissed the petitions of Punjab National Bank and Union Bank of India. Both the banks had petitioned for a stay on the notice by the RBI for disclosing information related to the list of defaulters, inspection reports etc.

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