RTI Act and Financial Institutions Altercation: An Anathema to Progressive Democratic Regime

Published date01 December 2023
AuthorDeevanshu Jaswani
Date01 December 2023
Subject MatterNotes
RTI Act and Financial
Institutions Altercation:
An Anathema to
Democratic Regime
Deevanshu Jaswani1
The Right to Information Act (RTI Act), 2005, is an instrument that enables people
to obtain information held by or under the control of any public authority that
includes autonomous regulatory bodies. The implicit purpose is to ensure that
transparency and accountability are maintained by the regulatory bodies besides
other government bodies. However, in the recent times it is observed that the
Reserve Bank of India (RBI) and other banks have been making attempts to evade
providing rightful information to the people. The article analyses the controversy
around the RBI and the banks with respect to disclosure of information under the
RTI Act.
The Right to Information Act, (RTI Act), 2005, was enacted with the aim to
promote transparency and accountability in government. The objective of making
information available in the public domain is also to ensure that the people are
aware of the facts so that they can make informed decisions.
The term ‘information’ dened under Section 2(f) and (j) of the RTI Act
includes inspection-related documents and records withheld by a public authority
or a private body. Similarly, the Act denes public authority as the following:
‘public authority’ means any authority or body or institution of self-government
established or constituted:
1. by or under the Constitution,
2. by any other law made by the Parliament,
3. by any other law made by a State Legislature,
4. by notification issued or order made by the appropriate government,
5. body owned, controlled or substantially financed, and/or
6. a non-government organisation substantially financed, directly or indi-
rectly by funds provided by an appropriate government.
Indian Journal of Public
69(4) 940–947, 2023
© 2023 IIPA
Article reuse guidelines:
DOI: 10.1177/00195561231166848
1 National Law University, Cuttack, Odisha, India.
Corresponding author:
Deevanshu Jaswani, National Law University, Kathajodi Campus, Cuttack, Odisha 753015, India.
E-mail: 18ba030@nluo.ac.in

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