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Government Vs RBI: Governor Urjit Patel Gets Show-Cause Notice For Not Revealing Wilful Defaulters List

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The face – off between the government and the RBI shows no signs of ebbing and threatens to escalate further. Now, he Central Information Commission (CIC) has issued a show-cause notice to RBI Governor Urjit Patel for “dishonouring” a Supreme Court judgment on disclosure of wilful defaulters’ list.

The CIC has also asked the Prime Minister’s Office, the Finance Ministry and the Reserve Bank of India (RBI) to make public the letter of former RBI governor Raghuram Rajan on bad loans.

Irked over the denial of information on the disclosure of the names of wilful defaulters who have taken bank loans of Rs 50 crore and above by the RBI in spite of a Supreme Court order, the CIC has asked Patel to explain why a maximum penalty be not imposed on him for “dishonouring” the verdict which had upheld a decision taken by then Information Commissioner Shailesh Gandhi, calling for disclosure of names of wilful defaulters.

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