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CIC directs RBI to disclose top 100 defaulters
25 Nov, 2011The Central Information Commission has directed the Reserve Bank of India to make public the names and other details of top 100 industrialists of the country who have defaulted on loans from public sector banks. The Commission also directed the bankers' bank to post on its web site complete information on all such industrialists as part of suo-motu disclosure mandated under section 4 of the RTI Act before December 31 and asked it to update it every year. Earlier, the RBI had objected to making this information public saying it is held by it in fiduciary capacity and disclosing it would adversely affect economic interest of the State.