Patel Gets A Rap: CIC Asks Why RBI Boss Should Not Be Penalised For Not Making Public Defaulters’ List, Despite SC Fiat

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 willful defaulters' list, PTI has reported.

The CIC has also ordered the Prime Minister's Office, the Finance Ministry and the Reserve Bank of India (RBI) to make public the letter of former RBI governor Raghuram Rajan on bad loans.

The commission asked Patel why the maximum penalty should not be imposed on him for withholding the list, despite a three-year-old court order.

The CIC, in a stern reprimand to Patel, noted that, "If a banking regulatory body like RBI does not honour the constitutional institution's directions, what will be the effect of the constitution on securing the rule of law? The RBI is liable to provide information regarding inspection report and other documents to the general public."

Angered over the denial of information on the disclosure of names of willful defaulters who have taken bank loans of Rs 50 crore and above in spite of a Supreme Court order, the CIC has asked Patel to explain why a maximum penalty be not imposed on him for "dishonouring" the verdict, which had upheld a decision taken by then Information Commissioner Shailesh Gandhi, calling for disclosure of names of willful defaulters.

"The Commission feels that there is no match between what the RBI Governor and the Deputy Governor say and their website regarding their RTI policy. Great secrecy of vigilance reports and inspection reports is being maintained with impunity in spite of the Supreme Court confirming the orders of the CIC in the Jayantilal case", Information Commissioner Sridhar Acharyulu said.

He concluded that it did not serve any purpose in punishing the CPIO for this defiance, because he acted under the instructions of the top authorities.

"The Commission considers the Governor as deemed PIO responsible for non-disclosure and defiance of SC orders and CIC orders and directs him to show-cause why maximum penalty should not be imposed on him for these reasons, before 16 November 2018," Acharyulu said.