RESERVE BANK OF INDIA versus JAYANTILAL N. MISTRY

RESERVE BANK OF INDIA versus JAYANTILAL N. MISTRY

The Reserve Bank of India does not have a fiduciary relationship with other banks; even if such a relationship existed, Section 2(f) of the RTI Act would permit disclosure of information obtained. The exemptions under Section 8(1)(a) and 8(1)(e) are to be applied strictly and do not cover the information sought in the present cases. Disclosure of inspection reports and related information is not against economic interest and is mandated by public interest and statutory duty under the RTI Act. RBI is duty bound to comply with the provisions of the Act and provide information under Section 10(1).

Parties
Petitioner: Reserve Bank of India; Respondent: Jayantilal N. Mistry
Jurisdiction
India
Judgment Date
16 December 2015
Procedural Posture
Transferred Case (civil) No. 91 of 2015 / Final Supreme Court Decision
Outcome
Matters dismissed; impugned orders of the Central Information Commissioner upheld.
Legal Topics
Right to Information, Fiduciary Relationship, Economic Interest, Disclosure of Information, Regulatory Authority
Constitutional Law Administrative Law Banking Law Right to Information Fiduciary Relationship Economic Interest Disclosure of Information Regulatory Authority

Case Brief

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Parties

Reserve Bank of India

Petitioner

Jayantilal N. Mistry

Respondent

Procedural Posture

Transferred Case (civil) No. 91 of 2015 / Final Supreme Court Decision

Legal Issues

  1. 1 Whether information sought under the Right to Information Act, 2005 can be denied by the Reserve Bank of India and other banks to the public on grounds of economic interest, commercial confidence, fiduciary relationship.
  2. 2 Extent to which such information can be provided under the RTI Act.

Ratio Decidendi

The Reserve Bank of India does not have a fiduciary relationship with other banks; even if such a relationship existed, Section 2(f) of the RTI Act would permit disclosure of information obtained. The exemptions under Section 8(1)(a) and 8(1)(e) are to be applied strictly and do not cover the information sought in the present cases. Disclosure of inspection reports and related information is not against economic interest and is mandated by public interest and statutory duty under the RTI Act. RBI is duty bound to comply with the provisions of the Act and provide information under Section 10(1).

Court Disposition

Matters dismissed; impugned orders of the Central Information Commissioner upheld.

Orders

  • Central Information Commissioner orders upheld; Reserve Bank of India directed to provide information sought under RTI Act.
  • No interference by Supreme Court.