Should public know account bnce of rich individuals, banks ask Supreme Court



NEW DELHI: Are citizen entitled to information about bank bnces and borrowings by Tatas, Ambanis and Birlas under the RTI Act, the banks asked on Monday while arguing before the Supreme Court that its judgment opening up confidential banking information through RTI would lay bare future business plans for which industrial houses seek credit lines.


Solicitor general Tushar Mehta and senior advocate Mukul Rohatgi, appearing for two large banks State Bank of India and HDFC Bank respectively, told a bench of Justices S Abdul Nazir and Krishna Murari that banking operations and the financial transactions, including the details of individual accounts, are held in confidence by the banks and that the SC judgment would seriously jeopardise the confidential clauses applicable to the banking operations under various statutes.


On April 29 this year, a bench headed by Justice L N Rao had dismissed applications by major banks, including SBI and HDFC, for recalling the SC's six-year-old judgment directing the banking regulator RBI to provide information under RTI about functioning of banks under the Act.

今年4月29日,以L N Rao法官为首的法官驳回了包括SBI和HDFC在内的主要银行的申请,这些银行申请撤销最高法院6年前的判决,该判决指示银行监管机构RBI根据RTI提供关于银行运作的信息。

Mehta said, "How can the bank breach the trust and fa th of the account holder just because a RTI activist desires to know what another person's bank bnce is, or what credit lines he has sought for his business empire for a confidential future venture? No one is ag inst transparency in banking operations. But, why should the banks, mandated by statute to maintain confidentiality, reveal information in breach of account holders' trust and reveal future business plans to rivals, who could get the information by employing an RTI activist's services?"


Rohatgi said that "We know how and who would use the RTI to seek information about business rivals. If the banks reveal to which sector loans are being given, then there will be no commercial confidentiality for any future project envisioned by an industrial house. A nine-judge bench of the SC has ruled that individual privacy is a part of to life. Should account holders in banks not enjoy privacy about their bank accounts?"



Sachin Guest

Banks should provide details to agencies like ED/IT NOT to general public! General public have s to know if there is any discrepancies which can be disclosed by agencies. I firmly believe courts should not interfere in administration decisions otherwise these judges will become like pseudo dic ors!





It’s none of my business to know how much money other person has in their bank account. It’s personal information and should remain as such. Even if the public knows there isn’t anything we can do about it, it’ll only end up hel bad elements of society to narrow down their target for ransom. If there is any fraud, anamoly then that’s responsibility of the income tax deparment and auditors.




As time passes, the masses seems to be more fanatic on every issue that comes to light.



Prakash Saldanha

We expect Swiss banks to disclose the details but not our own banks.



Pratik T

Supreme court judges should lead by example.

All supreme court and high court judge account bnce should be transparent.




My Lords such a decision would only further create disinterest in investment in the country. There has to be some limit to transparency. Companies make investment and borrowing plans aligned to their strategy. Disclosing this info could jeopardize their plans and competitive play!




The power to get the details should rest with ED/IT dept. and not general public. If public get access to such confidential matters, it would be anarchy.



Pavan Gupta

India is one of the few socialist countries left who hate financial success. Making money has been a crime under the Nehru/Gandhi Congress.



Paramjit Singh

All absurd. It is confidential thing. Can a judge’s account then be published through RTI ? No never.



Prabir Chaudhuri

If money has been acquired by dubious means, the public has a to know. That includes fraudulent loans, tax evasions etc.



Preeti Joshi

Bank bnce of po iticians



Shloka Bhatt

This is pn stupid...why would public needs to know that? Its ag inst to privacy...until anyone has not anything wrong no one has the to know their personal financial information





Hi 5 CDC

What a ridiculous question. The details of organisation are available online as there is enough transparency build. Rich person should have same to prect his information as an ordinary person does.




Natarajan D

Banks are .



Deepak Mahulkar

I am unable to understand the demand in de acy . One side we object to phone tap lest overstep in individual privacy and other side we want to know for no specific reason how much other saves in bank .





Public has to know from where money came and where it has been sent. Otherwise rich are coolly diverting bank funds and running away.



thoughtful indian

They need to know the bank bnces of the judiciary too. that is a money making machine too.



ronnie alberts

these uncivilized corrupt judges think they are the dicktators in this country.



Tsp Padmanabhan

First let these po iticians give bank details to public. Start from sonia, raghul, priyanka, vadra, bjp leaders



The Nationalist

If general public will get to know rich people account then this will be rise of co sm and destruction of de acy , and rich will flee , business will stop .


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