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SBI and HDFC Bank do not want confidential data to be made public | India News


NEW DELHI: The country’s two largest banks, State Bank of India and HDFC Bank, moved to the Supreme Court on Friday and requested a stay on the Reserve Bank of India directive to banks to provide financially sensitive data under the RTI Act He feared it could be detrimental to his business operations and compromise the confidentiality of customer information.
Although the address was sought against RBI, it was addressed to the SC order allowing the disclosure of such data.
The court previously prevented RBI from disclosing the information under the RTI Act
The SBI, through defender Sanjay Kapur, said: “In view of the judgment in the Jayantilal N Mistry case, the RBI is seeking the disclosure of confidential and sensitive information from the requesting bank, including the information of its employees and its customers, allegedly under the right to the Information Act of 2005, which are otherwise exempt under the provisions of Section 8 of said Act. ”
Appearing for the SBI and HDFC, Attorney General Tushar Mehta and Lead Counsel Mukul Rohatgi told a bank of judges LN Rao and Aniruddha Bose to disclose sensitive information such as inspection reports / risk assessment reports / annual financial inspection reports. of banks would make them vulnerable in the competitive banking sector to their rivals, who could take advantage of the RTI Act to learn the trade secrets and internal strengths of successful banks.
The court had previously prevented the RBI from releasing such reports under the RTI Act.
However, that provisional order was expunged because the SC’s April 28 order rejected the review of the Jayantilal N Mistry judgment.

Times of India