RBI's disclosure dilemma

While the RBI must respect the spirit of freedom of expression, we need to draw a Laxman rekha, and the RTI Act should not become a tool to bypass all confidentiality requirements under other laws

In 2014, when I was writing my second book on India’s largest shadow bank, I wanted certain information from India’s banking regulator. One of my colleagues sent an application to the Reserve Bank of India (RBI) under the Right to Information (RTI) Act with a Rs 10 postal order. The central bank declined to part with the information. I was not surprised as that was the tradition.

Now, if I write to the RBI seeking the same information — its inspection report of any regulated entity — I will, most probably, get it, unless it is a threat to national security