Recovery Policy Of Nationalised Bank

[jps50]

My friend had sought copy of recovery policy of a nationalised bank through RTI. Bank has refused such a copy stating that it pertains to bank's commercial confidence under sec 8 (1) d. Banks recovery policies substantially affect large number of borrowers. Members may pl discuss and give their learned opinions to enable my friend to file appeal with CIC

[sngupta]

Every public office is bound to disclose Every policy and procedures. Every citizen must know the recovery procedure before taking any loan from bank. If any one replying in this way means they have some hidden agenda to exloit the indian public. The meaning of business is not some hidden agenda but everything must be transparent and on the transparent conditions if any one want to do any transaction this is only correct transaction otherwise it may be treated as criminal conspiracy and cheating punishable under IPC.

[karira]

jps50,

I do not know exactly about "Bank recovery policy" but there are several decisions on the CIC website where many applicants have been allowed access to information regarding "recovery". This includes the party itself and the guarantors but does not include third party information.

Just do a search on the CIC website for "bank recovery" or "debt tribunal"

[snkmoorthy]

jps50, offhand i can say that the reply given by the bank is wrong; policies and procedures which affect a large number of the public belong to the public domain and they cannot be private property. i think this problem should be taken to higher authorities of the bank for solution. i would like to know the opinion of our enlightened members on this point especially the stalwarts, karira, maneesh, ganpat et al.

[jps50]

I have advised filing of first appeal, which my friend shall be doing in 2-3 days.