Reveal information about RBI defaulters and banks’ inspections: Cong

NEW DELHI, Apr 28: The Congress on Sunday asked why the central government was not giving a one-line directive to the RBI to disclose information about annual inspection report of banks and list of willful loan defaulters.
The party’s remarks came after the Supreme Court on Friday gave the banking regulator “a last opportunity” to reveal these details under the RTI Act.
“Under the Banking Regulation Act and the RBI Act, it takes government of India 15 seconds to direct the RBI to disclose… There are specific provisions of 35A, 35B and 35AA (of the Banking Regulation Act) that give this power to the central government… Why is the government not giving a one-line simple directive to disclose,” asked Congress spokesman Abhishek Many Singhvi.
Addressing a press conference here, he said, “The Supreme Court directed in 2015 that you must disclose. After that for four long years, the RBI under the direction of this government, clearly wanting to hide things, has procrastinated, has obstructed and has derailed, has avoided, and has given excuses.”
“Why is the RBI not disclosing? Is it protecting someone?” he questioned.
Singhvi asked if the BJP was trying to protect “crony capitalists” whose names are on the list of the RBI’s willful defaulters.
On Friday, the top court made it clear that the RBI was “duty-bound to furnish all information relating to inspection reports and other material” under the Right to Information (RTI) Act, 2005, except those which pertained to “matters of national economic interest.”
On 16 December, 2015, the apex court had asked the RBI to disclose such information under the RTI Act. However, the regulator did not do so. Therefore, on Friday, the apex court said the RBI is in “contempt of this court by exempting disclosure” of such information.
However, the court granted the RBI “a last opportunity” to rectify it. (PTI)