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RBI to Keep the List of Loan Defaulters Private
May 25, 2017
Ignoring the Supreme Court order of 2015 RBI has refused to publicly disclose the list of loan defaulters with public sector banks. The order was a result of an RTI application that was filed by Subhash Agrawal, an activist who sought information on the people who had defaulted on loans worth more than one crore.
In its defense, RBI has mentioned the provisions of Section 45-E of the RBI Act, 1934 which disallows thepublic disclosure of credit information. RBI also says that releasing the information will result in a conflict of economic interests of the state.
According to a report, the net worth of NPAs (Non-Performing Assets) was Rs. 6 lakh crore on December 31 last year.
