On Wednesday, Supreme Court revived it’s decision which it was given in 2015, about the banking system, that it is necessary to disclose all the Financial information regarding private and public banks which was given to Reserve Bank of India. This was mentioned under the Right to Information Act. The Supreme Court also directed Reserve Bank of India to release their annual inspection reports.
The Court dismissed a joint please filed by the centre and 10 other banks. It was the duty of the RBI to uphold public interest at large and the depositors, economy and the banking sector.
A bench of L. Nageshwar Rao and Vineet saran has taken an attempt to review it’s judgement which it has given in 2015. It was asked to provide all the information related to Non performing assets, losses from trading operation and all the notices and all the fines which were imposed by Reserve Bank of India.
These application are not maintainable and these miscellaneous application are dismissed. These application of recall were filed by the State Bank of India, Punjab National Bank, HDFC Bank, Bank of India, Canara Bank, Indian Bank etc.
It added that all the baseless argument of RBI that the disclosure would hurt the economic interest of country which is totally misconvienced.