Supreme Court gives RBI ‘last chance’ to alter disclosure policy

The Supreme Court on Friday gave the Reserve Bank of India (RBI) “a last opportunity” to withdraw a November 2016 Disclosure Policy to the extent to which it stonewalls revelation of every other kind of information under the Right to Information Act, including the list of wilful defaulters and annual inspection reports.

A Bench of Justices L. Nageswara Rao and M.R. Shah found the policy of the central bank to be directly contrary to the court’s judgment of December 2015 that the Reserve Bank could not withhold information sought under the RTI Act.

The Bench was hearing contempt petitions filed against the RBI for not complying with the 2015 judgment.

“We give them a last opportunity to withdraw the disclosure policy insofar as it contains exemptions which are contrary to the directions issued by this court,” Justice Rao said, giving an ultimatum in the 12-page verdict.

The 2015 judgment had rejected the RBI’s argument that it could refuse information sought under the RTI on the grounds of economic interest, commercial confidence, fiduciary relationship or public interest.