Wednesday, December 29, 2010

Disclose meetings agenda, RBI told

An order passed by Chief Information Commissioner Satyananda Mishra makes it mandatory for the Reserve Bank of India (RBI) to disclose pre-board meeting agenda notes and minutes. RBI has been told to draft a "disclosure policy" by February 2011 to bring about greater transparency in the bank's functioning. The Commission said such a move "will also set the trend for other banks to follow". The decision came on an application filed by one Kishan Lal Mittal, a resident of Mumbai, who had asked from RBI the copies of the minutes of the meetings of governing board, board of directors, committee of directors of the central bank from April 2007 and information regarding the complaint handling procedures followed by it against banking/non-banking companies. RBI's Public Information Officer said the information was "voluminous" and would take a long time to furnish, which would result in wasting public money.

Labels: , ,

Complete Article
Comments: Post a Comment

<< Home

This page is powered by Blogger. Isn't yours?

Subscribe to Posts [Atom]