ORDER

(02.02.2021)

1. The issues under consideration i.e. the reliefs sought by the complainant in his complaint dated 26.12.2018 due to alleged non-supply of information vide his RTI application dated 27.11.2018 are as under:-

(i) Penalty on the PIO (under Section 19(8)(c), of the RTI Act,2005)

(ii) Dismissal of the PIO on account of illegal, deliberate, mala fide and baseless

(iii) Administrative action and/strictures, against the PIO (under Section 20(2) , of the RTI Act,2005 )

(iv) Recommendation to the RBI and the GOI – Ministry of Finance, for administrative action and/strictures, against the PIO/FAA

(v) Impose Maximum Penalty, on the PIO under Section 20(1) ,of the RTI Act,2005 

(vi) Direct the Respondents to refund the Application fee paid by Complainant while submitting RTI Application, as per section (7)(6) of the RTI Act

(vii) Invoke its powers under the RTI Act to issue any other direction or recommendation as it may deem appropriate.

(viii) Direct the public authority to make entry in Service Book/Annual Performance Appraisal Report of the Respondents for defying the provisions of the Act

2. Succinctly facts of the case are that the complainant filed an application dated 27.11.2018 under the Right to Information Act, 2005 (RTI Act) before the Central Public Information Officer (CPIO), Reserve Bank of India, Mumbai, seeking following information:

(i) Derivative Scam

• RBI to confirm that it has a copy or extract or summary of the CBI Enquiry Report on the derivative scam which was related to the 19 banks on which the RBI had imposed penalties for frauds and irregularities in the derivatives business in 2008 wherein the RBI Penalty was imposed in 2011.

o If Yes, the PlO to provide a copy of the same

• W.r.t the aboveside derivative scam, the Applicant seeks the following information.

o FX derivative losses in the derivative which Crystallized in 2008, 2009, 2010, 2011, 2012 and to the end of the last option tenor or its preclosure (by default or active closure) on the corporate user of the derivatives.

o FX derivative losses in the derivative which crystallized in 2008, 2009, 2010, 2011, 2012 and to the end of the last option tenor or its preclosure (by default or active closure — which were not recovered by Indian Bankers who sold the products — from the corporate users.

o Names of the Bankers who could not recover the crystallized losses from the corporate users — with the amount of the losses for each bank.

o Names of Counterparties to the Indian Banks who sold the derivative products

o Fees earned by the Indian Banks and the counterparties wr.t Derivative Products sold from initiation to rollover to restructuring and closure/kick-in in the aggregate or by each banker

o Profit Earned by the Indian Bank and the Counterparties w.r.t derivative Product sold from initiation to rollover to restructuring and closure/kick-in in the aggregate or by each banker 

(ii) Forensic Audit o PlO to confirm that RBI has conducted a Forensic Audit of the banks or accounts and processes in banks in the last 5 years

o If Yes, the dates of the Audit, Names of the Banks or accounts etc and the Period of the Audit

o If Yes, PlO to provide the copy of the said Forensic report.

o PlO to confirm that RBI has DIRECTED a Forensic Audit of the banks or accounts and processes in banks in the last 5 years

o If Yes, the dates of the Audit, Names of the Banks or accounts etc., name of audit agency and Period of the Audit o If Yes, PlO to provide the copy of the said Forensic report.

(iii) Inspection of Bharatiya Reserve Bank Note Mudran Limited

• PlO to provide the dates of RBI Inspection of the Bharatiya Reserve Bank Note Mudran Limited in the last 9 years

• PlO to provide the scope of the RBI Inspection of the Bharatiya Reserve Bank Note Mudran Limited in the last 9 years

• PlO to provide a copy of the said Inspection reports of the Bharatiya Reserve Bank Note Mudran Limited in. the last 9 years

• PlO to confirm that a security or a vigilance audit was done w.r.t th