Copy of letter related to the inspection conducted by the RBI u/s 35 of Banking Regulation Act in respect of a cooperative bank was denied u/s 8(1)(d) & (e) – CIC: inspection report is held by the respondent in fiduciary capacity, appeal dismissed
24 Jun, 2015ORDER
1. The appellant, Shri N.J. Thomas submitted RTI application dated 14.02.2014 before the Central Public Information Officer (CPIO), Reserve Bank of India, Urban Bank Department, Thiruvananthapuram seeking copy of letter No. UBD(T) 837/2010- 201 dated 06.01.2011 issued by the RBI.
2. The CPIO vide letter dated 13.03.2014 informed the appellant that the letter under reference related to the inspection conducted by RBI u/s 35 of Banking Regulation Act, 1949 (AACS) with respect to the financial position of the cooperative bank as on 31.3.2010, its compliance and follow up action thereon. The disclosure of such information, obtained in fiduciary capacity by RBI and involving commercial confidence may harm the competitive position of a third party, the disclosure of the same is exempt u/s 8(1)(d) Notwithstanding anything contained in this Act, there shall be no obligation to give any citizen, information including commercial confidence, trade secrets or intellectual property, the disclosure of which would harm the competitive position of a third party, unless the competent authority is satisfied that larger public interest warrants the disclosure of such information; and (e) of the RTI Act.. Dissatisfied with the reply of the CPIO, the appellant filed first appeal on 22.03.2014 before the first appellate authority (FAA). The FAA, vide order dated 07.05.2014, while upholding the decision of the CPIO recorded that RBI being a regulator of co-operative banks held certain information in fiduciary capacity, the disclosure of which may harm the competitive position of such cooperative banks.
3. Thereafter the appellant filed the instant appeal before the Commission.
4. The matter was heard by the Commission. The appellant stated that the information sought by him related to larger public interest. There is no fiduciary relationship involved between the co-operative bank and the Reserve bank of India. The respondents stated that the appellant sought copy of letter dated 6.1.2011, which was related to the inspection conducted by the RBI u/s 35 of Banking Regulation Act in respect of a cooperative bank, the disclosure of such information would be exempt from disclosure u/s 8(1)(e) Notwithstanding anything contained in this Act, there shall be no obligation to give any citizen, information available to a person in his fiduciary relationship, unless the competent authority is satisfied that the larger public interest warrants the disclosure of such information; Notwithstanding anything contained in this Act, there shall be no obligation to give any citizen, information available to a person in his fiduciary relationship, unless the competent authority is satisfied that the larger public interest warrants the disclosure of such information; of the RTI Act, as it would harm the competitive position of a third party. They further added that there is a stay regarding disclosure of inspection report and related correspondence by the High Court of Delhi in the matter of RBI Vs. Ashwani Dixit (WP(C)1976/2012 till the final disposal of the writ petition.
5. The Commission accepts the submissions of the respondents and holds that inspection report of a cooperative bank is held by the respondent in fiduciary capacity and is exempt u/s 8(1)(e) Notwithstanding anything contained in this Act, there shall be no obligation to give any citizen, information available to a person in his fiduciary relationship, unless the competent authority is satisfied that the larger public interest warrants the disclosure of such information; Notwithstanding anything contained in this Act, there shall be no obligation to give any citizen, information available to a person in his fiduciary relationship, unless the competent authority is satisfied that the larger public interest warrants the disclosure of such information; of the RTI Act. The Commission finds no reason to intervene in the matter. The appeal is disposed of.
(Manjula Prasher)
Information Commissioner
Citation: Shri N.J. Thomas v. Reserve Bank of India in Appeal: No. CIC/MP/A/2014/001288