NEW DELHI: The Supreme Court on Wednesday slammed the Reserve Bank of India (RBI) for refusing to make public through Right To Information (RTI) its reports on inquiry into offensive practices by private and public sector banks and said as a "watchdog", the central bank had a duty to make public reports on non-transparent activities of banks.
"We have surmised that many financial institutions have resorted to 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 practising disreputable business practices," a bench of Justices M Y Eqbal and C Nagappan said.
Please click here to read more.