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A bench headed by Justice L. Nageshwar Rao also instructed the Reserve Bank to review its policy of providing information under Right to Information Act. The bench said that under the law, he is bound to do so.
The Supreme Court said that if the Reserve Bank now refuses to provide information under Right to Information Act, it will be taken seriously. In January 2019, the apex court issued a contempt notice to the Reserve Bank not to disclose the annual inspection report of the banks under the Right to Information Act.
The court in its decision in 2015 had said that the Reserve Bank should take stringent action against banks and financial institutions which are adopting unfair business practices.
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