Struggle between banks and RBI: Banks' argument - How to put the bank details of Tata, Birla, Ambani in front of the general public; Next hearing in Supreme Court on 22nd July

Struggle between banks and RBI: Banks' argument - How to put the bank details of Tata, Birla, Ambani in front of the general public; Next hearing in Supreme Court on 22nd July.

For information, tell us, how much is the bank balance of any rich person in the country? And can its information be known through Right to Information (RTI)? So in such a situation, along with the bank balance of the country's biggest wealthy people like Ambani, Tata and Birla, you will also be able to know the information about the loan on them.

On this, the Reserve Bank has also asked banks that they will be able to share confidential information related to their customers at all. But in such a situation, SBI told the Supreme Court that how can we break the trust of customers by sharing their personal information. Then in such a situation, Mukul Rohatgi said on behalf of HDFC Bank that the law of RTI is applicable only to government offices, should not be applied to private banks.

A hearing on this matter will be held on July 22.

Let us tell you that Solicitor General Tushar Mehta on behalf of SBI and Mukul Rohatgi on behalf of HDFC Bank are presenting their side in the court. Let us tell you that apart from these two banks like Axis Bank, Kotak Bank and IndusInd Bank are also against sharing confidential information in this matter. A bench headed by LN Rao is scheduled to hear such a matter on July 22. Let us tell you that on a similar matter, the court had dismissed a petition of SBI and HDFC Bank on 29 April itself.

In such a situation, sharing personal information will have a bad effect on the business.

In fact, the RBI had directed all banks under the Right to Information Act to share information about big defaulters and financially confidential data. But banks have objected to this.

Solicitor General Tushar Mehta has told on behalf of SBI and has said that now people have made RTI Act a business. In such a situation, HDFC Bank said that sharing personal information will have a bad effect on the business of companies. Now the bank has asked the Apex Court why the common man needs the inspection reports of 14 banks.

In July this year itself, the petition of PNB and UBI was dismissed.

Now Punjab National Bank (PNB) and Union Bank of India (UBI) had approached the Supreme Court in July 2021 in the same matter. But till then the court had dismissed the petition of the bank. Both the banks had sought a stay on the notice issued by the RBI for disclosing the list of defaulters and other such information including inspection reports.

Let me tell you that such cases had reached the court earlier as well.

The Supreme Court had earlier barred the Reserve Bank from sharing such information. But later the court changed its decision. In such a situation, the Supreme Court also refused to review its 2015 order in the Jayantilal N Mistry case on legal grounds, which said that the RBI has to give information about banks and financial institutions only under the Transparency Act.