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Central Information Commission directs RBI to provide list of top defaulters

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India's Central Information Commission (CIC) has directed the Reserve Bank of India (RBI) to provide the list of big defaulters within 10 days.

Central Information Commission directs RBI to provide list of top defaulters
India's Central Information Commission (CIC) has directed the Reserve Bank of India (RBI) to provide the list of big defaulters within 10 days.
The CIC—the regulatory body charged with helping those seeking answers— asked the central bank to submit the list to the Lucknow-based activist Nutan Thakur, who had sought information about two lists of big defaulters prepared by the RBI itself.
She argued that the information is in the larger public interest.
"The appellant submitted that the information is being sought purely in
public interest because the list of defaulters is of immense public importance and the people have a right to know about these defaulters," according to the CIC order.
Information Commissioner Suresh Chandra agreed with Thakur’s submission and said hiding names of big defaulters is definitely against the spirit of the RBI Act.
The Commission, therefore, directed the RBI to provide the list of big defaulters, while agreeing with RBI that it need not provide a copy of the entire files related with these defaulters.
Last month, the Congress spokesperson Abhishek Manu Singhvi alleged connivance between the RBI and the government for not disclosing the list of 100 biggest loan defaulters.
"Many cooperative banks, especially in Gujarat, are not disclosing the list of defaulters. The government is favouring its crony capitalist friends. Why is the government not directing the RBI to disclose the information?" Singhvi asked at a press conference.
The Congress was referring to the RBI's November 2016 Disclosure Policy, which stonewalls the revelation of various kinds of information under the Right to Information Act, including the list of willful defaulters and annual inspection reports.
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