Defaulters list: CIC issues notice to RBI chief

The Central Information Commission (CIC) has issued a show-cause notice to RBI Governor Urjit Patel for “dishonouring” a Supreme Court judgment on disclosure of the wilful defaulters’ list.

The CIC has also asked the Prime Minister’s Office, the Finance Ministry and the RBI to make public the letter of the former Governor Raghuram Rajan, on bad loans.

Irked over the denial of information on disclosure of names of wilful defaulters, who have taken bank loans of Rs. 50 crore and above, by the RBI, the CIC has asked Dr. Patel to explain why a maximum penalty should not be imposed on him for “dishonouring” the court verdict, which had upheld a decision taken by then Information Commissioner Shailesh Gandhi, calling for disclosure of names of wilful defaulters.

Dr. Patel, speaking at the Central Vigilance Commission on September 20, had said the guidelines on vigilance, issued by the CVC, were aimed at achieving greater transparency, promoting a culture of honesty and probity in public life and improving the overall vigilance administration in the organisations within its purview, the CIC noted.

“The CIC feels that there is no match between what RBI Governor and Deputy Governor say and their website regarding their RTI policy, and a secrecy of vigilance reports and inspection reports is being maintained with impunity,” Information Commissioner Sridhar Acharyulu said.