RBI Rejects Plea For Information On Key Demonetisation Meetings In ‘State Interests’

In response to a Right To Information (RTI) application, the Reserve Bank of India (RBI) refused to disclose data about the crucial meetings of Central Board of Directors on the issue of demonetisation, citing section 8 (1) (a) of the transparency law.

The RTI application was filed by activist Venkatesh Nayak.

The aforementioned section allows to hold back information which would prejudicially influence the security, strategic, scientific or economic interests of the state, relation with foreign state or lead to incitement of an offence.

Nayak said he will appeal against the decision.

“While confidentiality prior to the making of the demonetisation decision is understandable, continued secrecy after the decision is implemented is difficult to understand when crores of Indians, including this petitioner, have faced difficulties due to the shortage of cash in the economy.”