Professional Documents
Culture Documents
Submitted by,
Sarika.P.
S
First Semester LL.M
School Of Legal Studies
CUSAT
STATEMENT OF FACTS
The Respondents sought certain information with regard to various
banks and other details in the banking sector from RBI, to which the
latter refused to furnish information of certain queries. The
aggrieved parties by appeal approached the Central Information
Commission, wherein the Commission directed the RBI to provide
the sought information. The RBI later challenged the said order of
CIC before various High Courts in India, on account of the various
orders passed by CIC. All these petitions were transferred to the
Supreme Court, withdrawing the writ petitions filed before the High
Courts. Thus, the Honble Supreme Court observed that the CIC has
passed the order stating valid reasons and that the order do not
require interference of this Court and therefore, case was dismissed.
ISSUES RAISED
1. Whether all the information sought for under the Right to
Information Act, 2005 can be denied by RBI and other banks to
the public at large, on the ground of economic interest,
commercial confidence, fiduciary relationship with other bank on
the one hand and the public interest on the other?
2. Whether RTI Act overrides various provisions of special statutes
which confer confidentiality in the information obtained by the
RBI?
JUDGMENT IN BRIEF
The Honble Supreme Court refused to interfere with the orders
passed by the Central Information Commissioner by saying that,
they are based on valid reasons. The court said that responsibility
of the RBI is to take rigid action against those Banks which have
been practicing disreputable business practices and not to cover up
their acts from public scrutiny. The court opined that argument of
the RBI that the disclosure of information sought would hurt the
economic interest of the country is baseless, unsubstantiated and
totally misconceived. RBI is supposed to uphold public interest and
not the interest of individual banks. RBI is clearly not in any fiduciary
relationship with any bank. RBI has no legal duty to maximize the
benefit of any public sector or private sector bank, and thus there is