The State Bank of India has denied to disclose the list of wilful defaulters. This action of SBI comes up when the Supreme Court stated that the Reserve Bank of India is duty-bound to disclose the list of wilful defaulters under the Right to Information Act.
Advocate Nipun Singhvi had filed an RTI application seeking a list of wilful defaulters that has been declared by SBI from 2015 to 2019. The SBI denied the information stating the information having commercial confidence and is held in fiduciary capacity. Furthermore, the disclosure of the information is exempted under Section 8(1)(d), Section 8(1)(e) and Section 8(1)(j) of Right to Information Act, 2005.
The Supreme Court, in Girish Mittal v. Parvati V Sundaram, observed that RBI has to disclose the list of loan defaulters. The applicant stated that the opaque policy of SBI should be invalidated. The disclosure is necessary for the purpose of investment and general information and status of the companies.
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