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Should public know a/c balance of rich individuals, banks ask SC

Should public know a/c balance of rich individuals, banks ask SC SECTIONS Share Synopsis Solicitor general Tushar Mehta and senior advocate Mukul Rohatgi, appearing for SBI and HDFC Bank, respectively, told a bench of Justices S Abdul Nazir and Krishna Murari that banking operations and financial transactions, including the details of individual accounts, are held in confidence by the banks and that the SC judgment would seriously jeopardise the confidential clauses applicable to the banking operations under various statutes. (This story originally appeared in on Jul 20, 2021)NEW DELHI: Are citizens entitled to information on bank balances and borrowings by Tatas, Ambanis and Birlas under the RTI Act, the banks asked on Monday, while arguing before the Supreme Court that its judgment opening up confidential banking information through RTI would lay bare future business plans for which industrial houses seek credit lines.

Should public know a/c balance of rich individuals, banks ask SC | India News

NEW DELHI: Are citizen entitled to information about bank balances and borrowings by Tatas, Ambanis and Birlas under the RTI Act, the banks asked on Monday while arguing before the Supreme Court that its judgment opening up confidential banking information through RTI would lay bare future business plans for which industrial houses seek credit lines. Solicitor general Tushar Mehta and senior advocate Mukul Rohatgi, appearing for two large banks State Bank of India and HDFC Bank respectively, told a bench of Justices S Abdul Nazir and Krishna Murari that banking operations and the financial transactions, including the details of individual accounts, are held in confidence by the banks and that the SC judgment would seriously jeopardise the confidential clauses applicable to the banking operations under various statutes.

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