In Brief
Three contempt petitions challenged RBI's continued refusal to disclose information under the Right to Information Act, 2005, despite the Supreme Court's December 2015 judgment in Reserve Bank of India v. Jayantilal N. Mistry. The petitioners sought inspection reports, supervisory details, and information on derivative losses and bank penalties. RBI had claimed exemptions based on fiduciary relationship and economic interest. The Court held RBI in contempt for issuing a disclosure policy that contradicted the 2015 judgment's directive to disclose such information. The Court emphasized that no fiduciary relationship exists between RBI and banks, and that lower-level financial information must be disclosed. The petitions were disposed of with directions to withdraw non-compliant policy provisions."
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