Mumbai13 hours ago
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What is the bank balance of a rich person in the country? Can its information be known through Right to Information (RTI)? So you will also be able to know the bank balance and loan information of the biggest Dhankubers of the country like Ambani, Tata and Birla.
On this, the Reserve Bank has also asked banks that they can share confidential information related to their customers. But SBI told the Supreme Court that how can we break the trust of customers by sharing their personal information. Mukul Rohatgi said on behalf of HDFC Bank that the RTI Act is applicable only to government offices and not to private banks.
Hearing on the matter will be held on July 22
Solicitor General Tushar Mehta on behalf of SBI and Mukul Rohatgi on behalf of HDFC Bank are appearing in the court. Apart from these two banks, Axis Bank, Kotak Bank and IndusInd Bank are also against sharing of confidential information. The LN Rao-led bench will hear the matter on July 22. On April 29, the court had dismissed a petition by SBI and HDFC Bank on a similar matter.
Sharing personal information will have a bad effect on business
In fact, the RBI had directed banks under the Right to Information Act to share information about big defaulters and financially confidential data. Banks have objected to this.
Solicitor General Tushar Mehta on behalf of SBI said that people have made RTI Act a business. HDFC Bank said that sharing of personal information will adversely affect the business of companies. The bank asked the Apex Court that why does the common man need the inspection reports of 14 banks?
In July this year, the petition of PNB and UBI was dismissed.
Punjab National Bank (PNB) and Union Bank of India (UBI) had approached the Supreme Court in July 2021 in the same matter. But the court rejected the petition of the bank. Both the banks had sought a stay on the notice issued by the RBI for disclosing the list of defaulters and other related information including inspection reports.
Such cases have reached the court before
The Supreme Court earlier barred the Reserve Bank from sharing such information. But later the court changed its decision. The Supreme Court had also refused to review its 2015 order in the Jayantilal N Mistry case on legal grounds, which held that the RBI has to provide information about banks and financial institutions under the Transparency Act.