Monday, May 28, 2012

An RTI test looms for a regulator

.....The Reserve Bank of India (RBI) has challenged an order by the Central Information Commission (CIC) asking the central bank to disclose names of the top 100 industrialists who have defaulted on loan repayments. In a writ petition to the Delhi high court, which is scheduled to be heard on 29 May, the central bank has argued that provisions of the RBI Act, 1934, prohibit disclosing credit information relating to bank customers and that doing so will violate confidentiality. RBI has asked the court to quash the order...........

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