State Times: Jammu: Friday, March
17, 2017.
Contrary to
the general perception that Reserve Bank of India (RBI) is well aware of all
the transactions made by the companies and individuals in the bank accounts,
but the fact is otherwise or must say shocking, yes the Reserve Bank of India
has itself stated that it does not keep such data.
In an
official communiqué in response to an RTI application of applicant Raman
Sharma, the Chief Public Information Officer of the Reserve Bank of India vide
their letter number RBIND/R/2017/50598 dated16th March 2017 have stated that
the sought information is not available in the form in which it is sought and
rejected his RTI plea.
Earlier in
his RTI plea dated 14th February 2017, Raman had asked for detail of total
number of currency notes of Rs 2000 and Rs. 500 that were issued to different
banks/ financial institutions operating in Jammu and Kashmir State between the
period 8th November to 31st December 2016.
In the same
RTI plea, the applicant also wanted to know from the Central Bank about the
total number of old currency notes of Rs 1000 and Rs 500 that were deposited in
different banks/financial institutions operating in J and K State, between the
period 8th November to 31st December 2016.
While
responding 1st part of the application, the RBI invoked Section 7(9) of the
Right to Information Act 2009 and said collecting such information would divert
disproportionally the resources of the bank as such information is not
available with it.
Expressing
displeasure over the response of the Reserve Bank of India, the information
seeker Raman accused it of stone walling and shying away from transparency, he
said it is unbelievable that such a highest and statutory body is unaware of
the currency notes distributed and deposited in banks.
He also
referred the preamble of the RBI act 1934 which states the basic functions of
the bank as “…to regulate the issue of Bank Notes and keeping of reserves with
a view to securing monetary stability in India and generally to operate the
currency and credit system of the country to its advantage.”