SBI, HDFC Bank move SC against RBI directive to provide data under RTI act

The two largest banks of India feared that such a directive could be detrimental to their business operations and compromise the confidentiality of customer information

State Bank of India (SBI) and HDFC Bank have moved the Supreme Court and sought a stay on the Reserve Bank of India's directive to banks to provide financially sensitive data under the RTI act, The Times of India reported on Friday.

According to the report, the two largest banks of India feared that such directive could be detrimental to their business operations and compromise the confidentiality of customer information.

The case was heard by a bench of Justices L N Rao and Aniruddha Bose.

From SBI and HDFC side, solicitor general Tushar Mehta and senior advocate Mukul Rohatgi told the bench that