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Loan nonpayers list cannot reveal to public in interest of economics – RBI

An RTI application was filed by Subhash Agrawal to see the list of loan defaulters carrying more than one crore. He is an activist. In response to the RTI application, Supreme Court instructed RBI to make the information of such defaulters available for the public information.

The Reserve Bank of India has declined to make this information available to the public. As per the center, the gross non-performing assets of the government banks were at Rs 6.06 lakh Crore as on 31st December 2016.

The Reserve bank of India denied the details and mentioned that the articles of economic welfares of the nation and commercial provision do not allow such information to be given at public platform and the information holds trust commitment too. Moreover, as per the Section 45-E of the RBI Act, the information cannot be revealed.

The Apex court had said that Reserve bank of India is giving the baseless and unsupported argument by citing that revelation of information will harm the economic interest of the nation and it seems completely baseless. Supreme Court had asked Reserve bank of India to reveal the information related to loan defaulters’ people list and declined the RBI’s arguments.

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