The public sector bank disclosed in an RTI reply that Canara Bank has written off bad loans worth Rs 1.29 lakh crore in the last 11 years. Money Life.
From FY 11-12 to FY 21-22, the bank accumulated a total bad debt of Rs 1,29,088 crore. It shared the information in response to an RTI filed by Pune-based activist Vivek Velankar.
The bank disclosed loan credit data but refused to disclose information about defaulters, citing a clause in the Right to Information (RTI) Act.
The Central Public Information Officer said, “The information sought is personal information of the borrowers, and its disclosure would constitute an unwarranted invasion of privacy and which is exempted from disclosure under section 8(1)(j) of the RTI Act.” ” (CPIO) of Canara Bank said in response to RTI.
Mr. Velankar, in himself Right to information, sought details of the total amount written off for those borrowers whose loans were more than Rs 100 crore. But, refusing to disclose the information, the bank replied that “the information sought is not maintained in the manner sought”, as per the report.
As per Section 8(1)(j) of the RTI Act, “Information which relates to personal information, the disclosure of which has nothing to do with any public activity or interest, or which causes an undue invasion of the privacy of a person “So long as the CPIO or the SPIO or the appellate authority is satisfied that the wider public interest justifies the disclosure of such information, it should be exempted from disclosure.”
In his other question, the worker asked the bank about the total amount written off by him for bad loans of Rs 1 crore or less. In response to this, the report said that Canara Bank shared information on the total outstanding amount of borrowers from FY 11-12 to FY 21-22.