Non-Disclosure Of Willful Defaulters' List : CIC Issues Show Cause Notice To RBI Governor [Read Order]
6 years, 4 months ago

Non-Disclosure Of Willful Defaulters' List : CIC Issues Show Cause Notice To RBI Governor [Read Order]

Live Law  

The Central Information Commission has pulled up RBI Governor Urjit Patel for non-disclosure of the names and details of action taken against willful defaulters of big bad loans worth hundreds of crores of rupees.The Commission on Friday also directed the CPIOs of the RBI, the PMO and office of the Finance Minister to explain the action taken on the ‘alerting letter’ written by. The Central Information Commission has pulled up RBI Governor Urjit Patel for non-disclosure of the names and details of action taken against willful defaulters of big bad loans worth hundreds of crores of rupees. While considering an appeal filed by Sandeep Singh Jadoun who had sought details about willful defaulters, Central Information Commissioner Sridhar Acharyalu observed: “The Commission finds no merit in hiding the names of, details and action against willful defaulters of big bad loans worth hundreds of crores of rupees. The RBI shall disclose the bad debt details of defaulters worth more than 1000 crore at the beginning, of Rs 500 crore or less at later stage within five days and collect such information from the banks in due course to update their voluntary disclosures from time to time as a practice under Section 4 of RTI Act.” Considering the RBI Governor as ‘deemed PIO’ responsible for nondisclosure and defiance of SC orders and CIC orders, the Commissioner directed him to show cause why the maximum penalty should not be imposed on him for these reasons, before November 16, 2018.

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History of this topic

Bombay High Court slams banks casual take on declaring accounts fraud, asks Anil Ambani to approach RBI
3 weeks, 2 days ago

Bombay High Court slams banks casual take on declaring accounts fraud, asks Anil Ambani to approach RBI

The Hindu  

Raising concerns over banks casual take in declaring bank accounts as defaulter or fraud, the Bombay High Court on Friday, issued notice to Union Bank of India and the Reserve Bank of India in response to a petition filed by industrialist Anil Ambani. The petition challenges the October 10, 2024, order passed by the UBI by which it classified Mr. …

Bombay HC Directs Anil Ambani to Approach RBI in Loan Fraud Classification Case
Trending News
3 weeks, 2 days ago

Bombay HC Directs Anil Ambani to Approach RBI in Loan Fraud Classification Case

Deccan Chronicle  

Mumbai: The Bombay High Court on Friday issued a notice to the Union Bank of India and the Reserve Bank of India in response to a petition filed by industrialist Anil Ambani challenging the classification of his loan account as fraud. The Court expressed concerns over the "cut, copy, paste manner" in which banks pass orders declaring accounts as `defaulter' …

Bombay High Court Flags 'Cut Copy Paste' Orders Being Passed By Banks To Declare Fraud Accounts; Asks Anil Ambani To Approach RBI
3 weeks, 2 days ago

Bombay High Court Flags 'Cut Copy Paste' Orders Being Passed By Banks To Declare Fraud Accounts; Asks Anil Ambani To Approach RBI

Live Law  

The Bombay High Court on Friday asked industrialist Anil Ambani to approach the Reserve Bank of India to challenge the October 10, 2024 order passed by the Union Bank of India by which it classified his loan account, related to Reliance Communications, as "fraudulent account." A division bench of Justices Revati Mohite-Dere and Dr Neela Gokhale noted that the banks …

"RBI Officials Involved In Scams Like Kingfisher, Yes Bank", Alleges Subramanian Swamy; Supreme Court Issues Notice On Plea For CBI Probe
2 years, 5 months ago

"RBI Officials Involved In Scams Like Kingfisher, Yes Bank", Alleges Subramanian Swamy; Supreme Court Issues Notice On Plea For CBI Probe

Live Law  

A Division Bench of the Supreme Court of India on Monday issued notice on a writ petition filed by Dr Subramanian Swamy seeking an enquiry by the Central Bureau of Investigation into the role of Reserve Bank of India officials in various banking scams. Gavai and B.V. Nagarathna that the RBI officials had allegedly escaped scrutiny with respect to their …

Public Sector Banks Can Seek Look Out Circulars Against Defaulters Only If Detrimental To Economic Interest Of India: Kerala High Court
2 years, 6 months ago

Public Sector Banks Can Seek Look Out Circulars Against Defaulters Only If Detrimental To Economic Interest Of India: Kerala High Court

Live Law  

The Kerala High Court recently held that the public sector banks can request for opening of Look Out Certificates against defaulting account holders, only if the departure of the defaulter would be detrimental to the economic interest of India or it would not be in the larger public interest.Justice V.G. The Kerala High Court recently held that the public sector …

CIC Stays RBI Order Directing Bank To Disclose RTI Information On NPAs & Top Defaulters
3 years, 8 months ago

CIC Stays RBI Order Directing Bank To Disclose RTI Information On NPAs & Top Defaulters

Live Law  

The Central Information Commission has stayed the order of the First Appellate Authority of the Reserve Bank of India which had directed the disclosure of information on non-performing assets and top defaulters of the Saraswat Co-operative Bank Limited. The RBI's FAA issued the direction to the bank in an RTI application filed by former Commissioner Shailesh Gandhi, seeking information on …

Supreme Court Refuses To Stay RBI Notices To Bank Under RTI To Disclose Information
3 years, 8 months ago

Supreme Court Refuses To Stay RBI Notices To Bank Under RTI To Disclose Information

Live Law  

The Supreme Court on Friday refused the prayers made by Punjab National Bank and Union Bank of India to stay the RTI notices issued to them by the Reserve Bank of India to disclose information related to defaulters list, inspection reports etc.A division bench comprising Justices S Abdul Nazeer and Krishna Murari however issued notice on the writ petitions filed …

Contempt Petitions Filed Before Supreme Court For Alleged 'Wilful Violation' Of SC's Order On Non- Declaration Of NPAs
3 years, 10 months ago

Contempt Petitions Filed Before Supreme Court For Alleged 'Wilful Violation' Of SC's Order On Non- Declaration Of NPAs

Live Law  

Supreme Court has been moved by two Companies seeking punishment to contemners for flouting the top Court's order dated 3rd Sept 2020 whereby it had declared that " accounts which were not declared NPA till 31st August 2020 shall not be declared NPA till further orders " The petitions have been filed by Advocate Vishal Tiwari and Advocate Abhigya. The …

PMC Bank scam: Bombay HC asks RBI what steps were taken to help depositors; next hearing on 19 November
5 years, 4 months ago

PMC Bank scam: Bombay HC asks RBI what steps were taken to help depositors; next hearing on 19 November

Firstpost  

The Bombay High Court on Monday sought to know from the Reserve Bank of India what steps it has taken to protect the interests of depositors of the crisis-hit Punjab and Maharashtra Cooperative Bank Mumbai: The Bombay High Court on Monday sought to know from the Reserve Bank of India what steps it has taken to protect the interests of …

Central Information Commission directs RBI to provide names of big loan defaulters
5 years, 9 months ago

Central Information Commission directs RBI to provide names of big loan defaulters

Firstpost  

The Central Information Commission has directed the Reserve Bank of India to disclose the list of big loan defaulters it had sent to banks for resolution New Delhi: The Central Information Commission has directed the Reserve Bank of India to disclose the list of big loan defaulters it had sent to banks for resolution. The CIC’s directive came while deciding …

RBI withdraws circular asking banks to declare exposure to crisis-hit IL&FS
5 years, 10 months ago

RBI withdraws circular asking banks to declare exposure to crisis-hit IL&FS

Firstpost  

Following an NCLAT order, the Reserve Bank of India has withdrawn its circular asking banks and financial institutions to declare details of their exposure and provisions related to the crisis-hit IL&FS Mumbai: Following an NCLAT order, the Reserve Bank of India has withdrawn its circular asking banks and financial institutions to declare details of their exposure and provisions related to …

RBI withdraws circular that asked banks to disclose IL&FS exposure, provisions
5 years, 10 months ago

RBI withdraws circular that asked banks to disclose IL&FS exposure, provisions

Live Mint  

Mumbai: The Reserve Bank of India on Wednesday withdrew its 24 April-circular which mandated banks to disclose their exposure to Infrastructure Leasing and Financial Services Ltd, and its group entities, in their notes to financial statements. This comes after the National Company Law Appellate Tribunal last week allowed banks to declare defaulting loans of IL&FS and its group companies as …

Fate Of The Accounts Covered Under The February 2018 Circular Post-Supreme Court Judgment
5 years, 11 months ago

Fate Of The Accounts Covered Under The February 2018 Circular Post-Supreme Court Judgment

Live Law  

The Supreme Court of India in the matter of Dharani Sugars & Chemical Ltd Vs. Union of India struck down Circular dated 12th February 2018 issued by RBI as ultra vires of section 35AA of the Banking Regulation Act, 1949. The Supreme Court analyzed the scope of power of RBI under Section 35 AA of the BR Act and held …

Supreme Court quashes RBI’s February 12 circular on one-day default
5 years, 11 months ago

Supreme Court quashes RBI’s February 12 circular on one-day default

Deccan Chronicle  

Mumbai: The Supreme Court on Tuesday declared as unconstitutional the Reserve Bank of India’s February 12, 2018 circular on defaulting companies. The Supreme Court held that in the light of section 35AA of the Banking Regulation Act, the RBI could not have issued a generic circular mandating reference under the Insolvency and Bankruptcy Code. As a result, all cases in …

Opinion | An intruder undermines RBI
6 years ago

Opinion | An intruder undermines RBI

Live Mint  

Bankruptcy proceedings usually involve protecting a firm’s assets from creditors. The ruling by the bankruptcy court, which is overseeing the government- Already India has lost two RBI governors because, among other things, they dared to ask banks to acknowledge problem loans in time, classify them correctly and make adequate provisions for losses. Already-delayed Indian tribunal proceedings will stretch forever, with …

CIC pulls up RBI for non-disclosure of demonetisation records
6 years, 1 month ago

CIC pulls up RBI for non-disclosure of demonetisation records

Live Mint  

The Central Information Commission has pulled up the Reserve Bank of India for "perfunctory handling" of an RTI application seeking records of its board meetings where the issue of demonetisation was deliberated, and issued a show-cause notice to its Central Public Information Officer. Activist Venkatesh Nayak had sought records of all meetings of the RBI Central Board of Directors along …

Central Information Commission pulls up RBI for non-disclosure of demonetisation records
6 years, 1 month ago

Central Information Commission pulls up RBI for non-disclosure of demonetisation records

Firstpost  

New Delhi: The Central Information Commission has pulled up the Reserve Bank of India for “perfunctory handling” of an RTI application seeking records of its board meetings where the issue of demonetisation was deliberated, and issued a show-cause notice to its Central Public Information Officer. Activist Venkatesh Nayak had sought records of all meetings of the RBI Central Board of …

Non-Disclosure Of Information Under RTI Act: SC issues Notice To RBI On Contempt Plea
6 years, 1 month ago

Non-Disclosure Of Information Under RTI Act: SC issues Notice To RBI On Contempt Plea

Live Law  

The Supreme Court has issued notice to the Reserve Bank of India on two contempt petitions filed against it for non-disclosure of information under the Right to Information Act. Mr. Agrawal's petition now alleges violation of the Supreme Court decision by RBI's issuance of a "Disclosure Policy" directing its Public Information Officers to not disclose certain kinds of information. This, …

Bombay HC Grants Interim Stay On CIC’s Order Directing RBI To Disclose Wilful Defaulters’ List
6 years, 3 months ago

Bombay HC Grants Interim Stay On CIC’s Order Directing RBI To Disclose Wilful Defaulters’ List

Live Law  

The Bombay High Court on Friday granted interim stay on Central Information Commission’s order directing the RBI to submit a list of wilful defaulters with a bad loan of over Rs. The CIC had also issued a notice to then RBI Governor Urjit Patel for non-compliance of its orders on November 2, 2018.A division bench of Justice BP Dharmadhikari and …

Bombay HC Seeks Centre’s Response In RBI’s Petition Challenging CIC Order Directing Disclosure Of FCRA List [Read Order]
6 years, 3 months ago

Bombay HC Seeks Centre’s Response In RBI’s Petition Challenging CIC Order Directing Disclosure Of FCRA List [Read Order]

Live Law  

The Bombay High Court on Thursday directed the Centre to file its reply to a petition filed by the Reserve Bank of India challenging an order by the Chief Information Commission directing the RBI to disclose names of wilful defaulters and foreign donors on the Foreign Contribution Act watchlist.The division bench of Justice B.P. The Bombay High Court on Thursday …

CEOs of state banks can request for look-out notices against wilful defaulters, fraudsters
6 years, 4 months ago

CEOs of state banks can request for look-out notices against wilful defaulters, fraudsters

Firstpost  

Earlier this year, the government formed an inter-ministerial panel to look into various issues, including how to put a check on wilful defaulters fleeing the country. New Delhi: To check wilful defaulters and fraudsters from fleeing the country, the government has now authorised CEOs of public sector banks to make a request for issuance of look-out circulars against suspects. However, …

Govt authorises CEOs of public sector banks to request for look-out circulars against wilful defaulters
6 years, 4 months ago

Govt authorises CEOs of public sector banks to request for look-out circulars against wilful defaulters

Firstpost  

New Delhi: To check wilful defaulters and fraudsters from fleeing the country, the government has now authorised CEOs of public sector banks to make a request for issuance of look-out circulars against suspects. However, possession of mere passport detail was not enough but this circular has empowered banks to take a decisive action against wilful defaulters and fraudsters by requesting …

Govt authorises public sector bank CEOs to request for look-out circulars against wilful defaulters
6 years, 4 months ago

Govt authorises public sector bank CEOs to request for look-out circulars against wilful defaulters

Live Mint  

New Delhi: To check wilful defaulters and fraudsters from fleeing the country, the government has now authorised CEOs of public sector banks to make request for issuance of look-out circulars against suspects. However, possession of mere passport detail was not enough but this circular has empowered banks to take a decisive action against wilful defaulters and fraudsters by requesting for …

Disclosure of Loan Defaulters' List : CIC Should Ensure Compliance By RBI, Acharyulu Writes To Chief Information Commissioner [Read Letter]
6 years, 4 months ago

Disclosure of Loan Defaulters' List : CIC Should Ensure Compliance By RBI, Acharyulu Writes To Chief Information Commissioner [Read Letter]

Live Law  

The outgoing Central Information Commissioner Prof.M. Sridhar Acharyulu has written to the Chief Information Commissioner R K Mathur making a fervent plea that CIC should take steps to make the Reserve Bank of India comply with the orders of CIC to disclose information of willful loan defaulters.The letter comes in the wake of November 16 direction by him to RBI …

Disclosure of Loan Defaulters' List : CIC Should Ensure Compliance By RBI, Acharyulu Writes To Chief Information Commissioner [Read Letter]
6 years, 4 months ago

Disclosure of Loan Defaulters' List : CIC Should Ensure Compliance By RBI, Acharyulu Writes To Chief Information Commissioner [Read Letter]

Live Law  

The outgoing Central Information Commissioner Prof.M. Sridhar Acharyulu has written to the Chief Information Commissioner R K Mathur making a fervent plea that CIC should take steps to make the Reserve Bank of India comply with the orders of CIC to disclose information of willful loan defaulters.The letter comes in the wake of November 16 direction by him to RBI …

PMO & RBI Should Reveal Information On Willful Defaulters & Raghuram Rajan's Letter : CIC [Read Order]
6 years, 4 months ago

PMO & RBI Should Reveal Information On Willful Defaulters & Raghuram Rajan's Letter : CIC [Read Order]

Live Law  

The Central Information Commission has directed the Reserve Bank of India and the Prime Minister's Office to disclose information on list of willful defaulters and action taken on the ‘alerting letter’ written by former Governor of RBI Raghuram Rajan on February 5, 2015"If the letter of Sri Raghuram Rajan is acted upon, PMO should have explained the same, if not …

CIC again asks PMO, RBI to disclose wilful defaulters' list, Raghuram Rajan's letter on bad loans
6 years, 4 months ago

CIC again asks PMO, RBI to disclose wilful defaulters' list, Raghuram Rajan's letter on bad loans

India TV News  

Pulling up the Reserve Bank of India and the Prime Minister Office, the Central Information Commission has again directed them to disclose the list of wilful defaulters and Raghuram Rajan's letter on bad loans. The commission had earlier issued a show cause notice to RBI Governor Urijit Patel for "dishonouring" a Supreme Court judgment and CIC directive on disclosure of …

Hear The Alleged Wilful Defaulter’s Side Before Taking Any “Drastic Measure”: Allahabad HC Directs IDBI [Read Order]
6 years, 4 months ago

Hear The Alleged Wilful Defaulter’s Side Before Taking Any “Drastic Measure”: Allahabad HC Directs IDBI [Read Order]

Live Law  

The Allahabad High Court recently directed the Industrial Development Bank Of India to consider the representation by an alleged “wilful defaulter” before taking any “drastic steps” against him.The Bench comprising Justice B.Amit Sthalekar and Justice Rajiv Joshi ordered the bank to consider the representation by Mr. Sanjiv Aggarwal within a month, and also allow him an. The Allahabad High Court …

Hear The Alleged Wilful Defaulter’s Side Before Taking Any “Drastic Measure”: Allahabad HC Directs IDBI [Read Order]
6 years, 4 months ago

Hear The Alleged Wilful Defaulter’s Side Before Taking Any “Drastic Measure”: Allahabad HC Directs IDBI [Read Order]

Live Law  

The Allahabad High Court recently directed the Industrial Development Bank Of India to consider the representation by an alleged “wilful defaulter” before taking any “drastic steps” against him.The Bench comprising Justice B.Amit Sthalekar and Justice Rajiv Joshi ordered the bank to consider the representation by Mr. Sanjiv Aggarwal within a month, and also allow him an. The Allahabad High Court …

CIC show-cause notice to RBI governor: It's high time the central bank ended the secrecy on wilful defaulter data
6 years, 4 months ago

CIC show-cause notice to RBI governor: It's high time the central bank ended the secrecy on wilful defaulter data

Firstpost  

The RBI has been taking shelter under the archaic law that there is a fiduciary relationship between a bank and its debtor so much so that any disclosure about his loan status would amount to this sacred relationship. The RBI has been taking shelter under the archaic law that there is a fiduciary relationship between a bank and its debtor …

CIC issues show-cause notice to RBI governor for non-disclosure of wilful defaulters’ list
6 years, 4 months ago

CIC issues show-cause notice to RBI governor for non-disclosure of wilful defaulters’ list

Live Mint  

New Delhi: The Central Information Commission has issued a show-cause notice to RBI Governor Urjit Patel for “dishonouring” a Supreme Court judgment on disclosure of the wilful defaulters’ list. Irked over the denial of information on disclosure of names of wilful defaulters who have taken bank loans of Rs50 crore and above by the RBI in spite of a Supreme …

Disclose names and action taken against wilful defaulters: CIC
6 years, 6 months ago

Disclose names and action taken against wilful defaulters: CIC

Live Mint  

New Delhi: The Central Information Commission has asked the Union government and the Reserve Bank of India to disclose the names of wilful defaulters of ₹ 50 crore and above and the action taken against them, saying every taxpaying citizen has a right to know about it. Acharyulu pointed out that defaulters of small amounts like farmers are defamed in …

Don’t Act In A Manner That Makes Public Think RBI, ED Are Politicians’ Puppets, Bombay HC Tells ‘Those In Power’ [Read Judgment]
6 years, 8 months ago

Don’t Act In A Manner That Makes Public Think RBI, ED Are Politicians’ Puppets, Bombay HC Tells ‘Those In Power’ [Read Judgment]

Live Law  

‘The political parties and outfits in power, in opposition ought to know that just as Defence Forces, Police and the Judiciary, it is important that these institutions do not betray public trust and confidence.’While directing the Reserve Bank of India to consider the compounding applications filed by New Delhi Television, the Bombay High Court observed that those in power. ‘The …

RBI Governor Urjit Patel briefs Parliamentary Standing Committee on finance, takes tough questions on PNB fraud
6 years, 9 months ago

RBI Governor Urjit Patel briefs Parliamentary Standing Committee on finance, takes tough questions on PNB fraud

Firstpost  

Members of the committee asked Urjit Patel as to how a scam, allegedly masterminded by Nirav Modi and Mehul Choksi, and executed over several years, went undetected The Parliament’s Standing Committee on Finance, headed by Congress leader Veerappa Moily, on Tuesday, reportedly posed some tough questions to RBI Governor Urjit Patel, particularly about the massive Punjab National Bank, which surfaced …

PSUs write-off NPAs worth Rs 2.4 lakh crore in over 3 years, Mamata Banerjee slams govt for not disclosing defaulters
6 years, 11 months ago

PSUs write-off NPAs worth Rs 2.4 lakh crore in over 3 years, Mamata Banerjee slams govt for not disclosing defaulters

India TV News  

The Public Sector Banks wrote-off loans worth Rs 2,41,911 crore between April 2014 and September 2017.In a written reply to Rajya Sabha, Minister of State for Finance Shiv Pratap Shukla said that writing off non-performing assets or bad loans is a regular exercise conducted by banks to clean up their balance sheet and to achieve taxation efficiency. "On the contrary, …

Bank frauds set to rock Parliament's Budget Session, Congress plans to corner Centre
7 years, 1 month ago

Bank frauds set to rock Parliament's Budget Session, Congress plans to corner Centre

India TV News  

The multi-crore PNB bank fraud and the Rotomac issue are set to rock the second leg of Parliament's Budget Session with the Congress saying it would talk to other like-minded parties and demand answers from the government on the state of the banking sector in the country. He said the Congress would demand answers from the government not just on …

CIC Refuses To Direct RBI To Disclose Defaulters And NPAs List, Awaits SC Verdict [Read Order]
7 years, 10 months ago

CIC Refuses To Direct RBI To Disclose Defaulters And NPAs List, Awaits SC Verdict [Read Order]

Live Law  

A full-Bench of the Central Information Commission recently refused to direct the RBI to disclose list of defaulters and non-performing assets, in view of a similar issue being under consideration before the Supreme Court in the case of Centre for Public Interest Litigation v. Housing and Urban Development Corporation Ltd. & Ors., WP No 573/2003.The CIC Bench, comprising. A full-Bench …

Willful defaulters’ list: It is high time the Supreme Court read the riot act to the RBI
8 years, 4 months ago

Willful defaulters’ list: It is high time the Supreme Court read the riot act to the RBI

Firstpost  

If there are certain irregularities in the working and functioning of such banks and institutions, the citizens certainly have a right to know about the same In 2011-12 the Central Information Commission 1 gave eight orders to RBI to give information in respect of the following maters 1) top defaulters; 2) Investigations and audit reports of banks by RBI; 3) …

I am not a defaulter, says Vijay Mallya
8 years, 10 months ago

I am not a defaulter, says Vijay Mallya

The Hindu  

Beleaguered industrialist Vijay Mallya on Monday said he was not a defaulter as he had offered settlement. Mr. Mallya resigned from the Rajya Sabha on Monday, a day before the Ethics Committee of the Upper House was set to recommend his expulsion. In a series of tweets Mr. Mallya urged media to “verify facts before calling him defaulter.” Agree Kingfisher …

Rajan must not be allowed to hide bank defaulters from public scrutiny
8 years, 11 months ago

Rajan must not be allowed to hide bank defaulters from public scrutiny

Firstpost  

Chief Justice T S Thakur must save the fellow countrymen from such sharks out to devour India when he takes up the matter on April 26 It was rather surprising that the Supreme Court chief justice T S Thakur told the court on 12th April that his bench would examine if the total amount of defaults in repayment of bank …

RBI gives loan defaulters' list, urges SC not to reveal names because of 'adverse impact' on business
8 years, 11 months ago

RBI gives loan defaulters' list, urges SC not to reveal names because of 'adverse impact' on business

Firstpost  

The RBI has submitted a list of big loan defaulters in a sealed cover to the Supreme Court with a submission that disclosing their names may have “adverse impact” for business and may “accentuate failure of business”. New Delhi: The RBI has submitted a list of big loan defaulters in a sealed cover to the Supreme Court with a submission …

RBI’s Duty to Comply with RTI; Ten orders of Shailesh Gandhi upheld by SC
9 years, 3 months ago

RBI’s Duty to Comply with RTI; Ten orders of Shailesh Gandhi upheld by SC

Live Law  

Public authorities have developed ‘fiduciary’ relation as a firm strategy to deny any information about the exercise of their power. Even Reserve Bank of India continued to refuse the information about financial institutions for years despite ten orders from Shailesh Gandhi, retired Information Commissioner and one from Satyanand Mishra, retired CIC. The Supreme Court upheld these orders and directed the …

RBI warns public against financial frauds in its name
10 years, 4 months ago

RBI warns public against financial frauds in its name

India TV News  

Mumbai: Warning the general public about credit card frauds in the name of Reserve Bank of India, the central bank has said it does not carry out business with individuals and falling prey to such offers can cause their financial loss. "The RBI has once again cautioned members of public that falling prey to such offers can result in compromising …

CIC directs RBI to disclose names of top 100 defaulters
13 years, 4 months ago

CIC directs RBI to disclose names of top 100 defaulters

The Hindu  

The Central Information Commission has directed the Reserve Bank of India to make public the names and other details of top 100 industrialists of the country who have defaulted on loans from public sector banks. The RBI had objected to making this information public saying it is held by it in fiduciary capacity and disclosing it would adversely affect economic …

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