Re: [HumJanenge] CIC asks RBI to disclose its inspection reports of banks

Can someone forward the copy of the CIC's order in this regard.

Thanks
Abhinav

On 11/4/11, Dwarakanath <dwarakanathdm@gmail.com> wrote:
> Friends, it is really a very interesting stand taken by the RBI.
> Particularly it is not known clearly what is the role of the RBI and the
> FEMA as against the Funds that are supposed to be stashed therein by the
> Indian Citizens. It is obvious that any middle or lower class citizen of
> India who is ecking out his livelihood 8 hours a day in 24x 7 would even
> ever think of stashing his money in Swiss Bank but let alone in Indian
> Banks.
> The role of the Controller & Auditor General of India, in this regard is
> also not clear.
>
> However section 8 , chapter III of the Representation of Peoples Act,
> 1951 clearly defines " the disqualification on conviction for certain
> OFFENCES : Sub-section 7(b) defines " "disqualified" means disqualified
> for being chosen as, and for being a member of either House of Parliament
> or of the Legislative Assembly or Legislative Council of a State".
> Sub-section (e) of Section 8 defines " THE FOREIGN EXCHANGE (REGULATION)
> ACT 1973" - (convition of a person for an offence punishable under the the
> above section /sub-section).
> Therefore it is surprising that if our Indian Leaders and Politicians does
> not have any account in Swiss Bank, illegally, there should be no hassles
> in either getting the details of such accounts or publishing such accounts
> details by our Authorities. If any persons in power are found, to have
> contravened the FEMA Act, and are convicted, they have nothing to loose,
> except the money and their powerful position, if any. . If our
> Governmernt does not want to make any publication or obtain these details,
> it certainly would point out an accusing finger. the time has come for us
> to be frank and open minded
> .
> On Thu, Nov 3, 2011 at 12:42 PM, Sidharth Misra
> <sidharthbbsr@gmail.com>wrote:
>
>> I salute Sailesh Gandhi for this BOLD Order, overriding his predecessors.
>>
>> http://goo.gl/13nfN
>>
>> CIC asks RBI to disclose its inspection reports of banks
>> Chetan Chauhan, Hindustan Times, New Delhi, November 02, 2011
>>
>> In what could open banks for public scrutiny, the Central Information
>> Commission has asked the country's banking regulator Reserve Bank of
>> India (RBI) to disclose information regarding inspections of banks
>> under the transparency law --- Right To Information. Information
>> Commissioner
>> Shailesh Gandhi rejected the RBI's claim that if the information
>> regarding banks was disclosed it could lead to reduction of faith in
>> banks and it could affect economic interest of the states.
>>
>> "The idea that citizens are not mature enough to understand and will
>> panic is repugnant to democracy," Gandhi said, in his order and added
>> that in over 60 years the citizens have handled their democratic
>> rights in a mature fashion and have punished leaders who have shown
>> tendencies of trampling their rights.
>>
>> Gandhi also took his own commission to task, which had earlier given a
>> blanket exemption to RBI to decide the information it could disclose
>> on the ground that it was an expert body to understand implications of
>> the information for the banking sector.
>>
>> "If the position of the full bench (of the CIC) is to be accepted…then
>> all public authorities could be best judge of what information could
>> be disclosed. In such an event the information commission would have
>> no role to play," Gandhi said, while hearing an appeal of Jayantilal N
>> Mistry of Gujarat against RBI.
>>
>> The commission cannot abdicate its responsibilities under the RTI Act
>> to RBI on the ground that latter was an expert body, Gandhi said. He
>> also ruled that CIC's full bench had no powers to review the decision
>> of former information commissioner M M Ansari, who had asked RBI to
>> provide complete information relating to performance of banking
>> sector.
>>
>> Holding RBI guilty of not reading the full bench decision completely,
>> Gandhi said it had clearly stated that a larger public interest was
>> likely to be served by disclosure of such information and RBI should
>> be proactive in this. "It is unfortunate that the RBI has not taken
>> any steps to proactively disclosure this information in the last five
>> year," he said, while asking RBI to disclose information to the
>> applicant by end of November.
>>
>> Gandhi was also amused at the RBI's contention that disclosing
>> information regarding inspection report of a particular bank could
>> jeopardize economic interests of India. "Declaring the audit,
>> inspection and investigation reports of all cooperative banks which
>> have gone into liquidation cannot do any further harm to such banks,"
>> he said.
>>
>>
>> http://www.hindustantimes.com/India-news/NewDelhi/CIC-asks-RBI-to-disclose-its-inspection-reports-of-banks/Article1-764092.aspx
>>
>

--
Thanks
Abhinav

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Have a heart that never hardens, a temper that never tires, and a touch that
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