The RTI Act: RBI may need to rework communications strategy after SC order

RTI experts are elated with the apex court's latest order that emphasised on the RBI's statutory duty to uphold the interests of the public-at-large and the depositors

Four days after a Supreme Court order ( in Girish Mittal vs Parvati vs Sundaram & Anr Matter) negated the RBI’s stand on RTI Act, the banking regulator came out with a new Disclosure Policy on April 30. As per the SC judgment, the Disclosure Policy, and the actions taken under it, would need to be in compliance with the decision of the Supreme Court in RBI vs Jayantilal N Mistry matter of 2015.

The Jayantilal judgement set out the balance that needs to be struck while disclosing information in relation to the banking sector, says L Viswanath, partner, Cyril Amarchand