SBI, HDFC Bank don’t want sensitive data made public | India News – Times of India

New Delhi: The country’s two largest banks – State Bank of India and HDFC Bank – on Friday moved the Supreme Court and stayed the Reserve Bank of India’s directive to banks to provide financially sensitive data under the RTI Act. Demanding that they feared it could be harmful to their business operations and compromised the confidentiality of customer information
Although a directive was sought against the RBI, it was aimed at the SC order that allowed such data to be split.
The court had earlier prevented the RBI from disclosing it under the RTI Act.
SBI said through advocate Sanjay Kapoor, “In view of the judgment in the Jayantilal N Mistry case, RBI is seeking to disclose the confidential and sensitive information of the applicant bank, including the information of its employees and its customers. Information Act, 2005, which are otherwise exempt under the provisions of section 8 of the said Act. ”
Solicitor General Tushar Mehta and Senior Advocate Mukul Rohatgi, appearing for SBI and HDFC, told the bench of Justices LN Rao and Anirudh Bose that they were unsafe to disclose sensitive information such as inspection reports / risk assessment reports / annual financial inspection reports of banks. Will be done. Competitive banking sector for rivals, who can take advantage of the RTI Act to unravel the trade secrets and internal strengths of successful banks.
The court had earlier barred the RBI from disclosing such reports under the RTI Act.
However, that interim order collapsed due to the SC’s 28 April order denying the review of Jayantilal N Mistry’s decision.

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