"We have surmised that many financial institutions have resorted to such acts which are neither clean nor transparent. The RBI in association with them has been trying to cover up their acts from public scrutiny. It is the responsibility of the RBI to take rigid action against those banks which have been practicing disreputable business practices," a bench comprising Justices M Y Eqbal and C Nagappan said.

The apex court clarified that Reserve Bank of India (RBI) cannot withhold information under the 'guise' of confidence or trust with financial institutions and is accountable to provide information sought by general public.

This attitude of the RBI will only attract more suspicion and disbelief in them. RBI as a regulatory authority should work to make the Banks accountable to their actions.

The Apex Court said that RBI has a duty to uphold the interest of the public at large was duty bound to comply with the provisions of the RTI Act and disclose the information sought by the people.

The court's judgement came on batch of pleas transferred from various High Courts where the Central Information Commission (CIC) had directed RBI to furnish the information sought by applicants under the RTI Act.

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