New Delhi: Are citizens entitled to information about bank balance and borrowings? Bye, under Ambani and Birla right to Information Act, banks asked on Monday, arguing before Supreme court That its decision to open confidential banking information through RTI would lead to future business plans for which industrial houses want credit lines.
solicitor General Tushar Mehta and Senior Advocate Mukul Rohatgi, appearing for SBI and HDFC bankrespectively, told a bench of Justices S Abdul Nazeer and Justice Krishna Murari that banking operations and financial transactions, including details of personal accounts, are held in confidence by banks and that scheduled caste The decision would seriously jeopardize the confidentiality clauses applicable to banking operations under various statutes.
solicitor General Tushar Mehta and Senior Advocate Mukul Rohatgi, appearing for SBI and HDFC bankrespectively, told a bench of Justices S Abdul Nazeer and Justice Krishna Murari that banking operations and financial transactions, including details of personal accounts, are held in confidence by banks and that scheduled caste The decision would seriously jeopardize the confidentiality clauses applicable to banking operations under various statutes.
Mehta said, “No one is against transparency. But, why should banks, mandated by law to maintain confidentiality, disclose information in breach of account holders’ trust and disclose future business plans to rivals, who may obtain the information by employing the services of an RTI activist?
However, advocate Prashant Bhushan strongly opposed the new move by the banks to come out of their obligations.
The bench said that prima facie Bhushan appears to be correct and the matters should be listed before a bench headed by Justice LN Rao, which rejected the recall applications.
However, the bench adjourned further hearing till Thursday.
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