Disclosure of information by financial institutions
Different financial organisations approached the CIC separately seeking stay of the order of the PIO of RBI claiming that disclosure would cause irreparable loss and injury to their institution while no prejudice would be caused to the RTI applicant. In terms of the prayer, the CIC admitted the second appeal and keeping in view of the urgency, the operation of the PIO’s reply and FAA’s order was stayed till further orders. The CIC directed that the matter may be posted for hearing as soon as possible.
Comments
The Supreme Court has already deliberated upon the issue in Reserve Bank of India v. Jayantilal N. Mistry and has directed that such information is liable to be disclosed. Hence, the interim order of the CIC restraining the CPIO from releasing the information appears to be without merit. On 02.07.2021, the Supreme Court refused the prayers made by Punjab National Bank and Union Bank of India to stay the RTI notices issued to them by the Reserve Bank of India.
Citation: Experian Credit Information Company Pvt. Limited & Anr. V. CPIO, Reserve Bank of India & Anr. in Second Appeal No. CIC/RBIND/A/2021/615945 with similar order in: Babaji Datey Mahila Sahakari Bank Limited v. CPIO, Reserve Bank of India & Anr. in Second Appeal No. CIC/RBIND/A/2021/109972; Jammu & Kashmir Bank Limited & Anr. v. CPIO, Reserve Bank of India & Anr. in Second Appeal No. CIC/RBIND/A/2021/611795; Jain Co-operative Bank Limited & Anr. v. CPIO, Reserve Bank of India & Anr. in Second Appeal No. CIC/RBIND/A/2021/110465, Date of Decision: 01.06.2021
Dr. Anuradha Verma (dranuradhaverma@yahoo.co.in) is an expert on RTI matters and has co-authored the books RIGHT TO INFORMATION - LAW AND PRACTICE and PIO’s guide to RTI. Apart from her weekly article here, her other articles can be read at the website of RTI Foundation of India at the link: www.rtifoundationofindia.com
Comments
The Supreme Court has already deliberated upon the issue in Reserve Bank of India v. Jayantilal N. Mistry and has directed that such information is liable to be disclosed. Hence, the interim order of the CIC restraining the CPIO from releasing the information appears to be without merit. On 02.07.2021, the Supreme Court refused the prayers made by Punjab National Bank and Union Bank of India to stay the RTI notices issued to them by the Reserve Bank of India.
Citation: Experian Credit Information Company Pvt. Limited & Anr. V. CPIO, Reserve Bank of India & Anr. in Second Appeal No. CIC/RBIND/A/2021/615945 with similar order in: Babaji Datey Mahila Sahakari Bank Limited v. CPIO, Reserve Bank of India & Anr. in Second Appeal No. CIC/RBIND/A/2021/109972; Jammu & Kashmir Bank Limited & Anr. v. CPIO, Reserve Bank of India & Anr. in Second Appeal No. CIC/RBIND/A/2021/611795; Jain Co-operative Bank Limited & Anr. v. CPIO, Reserve Bank of India & Anr. in Second Appeal No. CIC/RBIND/A/2021/110465, Date of Decision: 01.06.2021
Dr. Anuradha Verma (dranuradhaverma@yahoo.co.in) is an expert on RTI matters and has co-authored the books RIGHT TO INFORMATION - LAW AND PRACTICE and PIO’s guide to RTI. Apart from her weekly article here, her other articles can be read at the website of RTI Foundation of India at the link: www.rtifoundationofindia.com