PNB refuses to provide information about the loan sanction process for Nirav Modi

The PNB has refused to provide information on a RTI query filed by RTI Activist Anil Galgali, seeking information about the absconding Scamster Nirav Modi, the information related to total amount of loan, the procedure applied for sanction of the loans, the resolution in the Board of Directors of the Bank in which the loan was approved.

RTI Activist Anil Galgali had sought information from the Punjab National Bank about the total quantum of loan extended to Nirav Modi and also the details of the Board of directors meetings such as Agenda, proposal, approvals and the Minutes of the meeting in which the loan proposals were sanctioned. In a response to the query the Deputy General Manager and Central Public Relation Officer Joy Roy informed Galgali that the case is deriving exemption from disclosure under Section 8(1)(h) of Right to Information Act. Section indicated that the information which would impede the process of investigation or apprehension or prosecution of offenders, the information was refused.

Anil Galgali has filed the 1st appeal as per the procedures of RTI Act. It is important to expose the officers who failed in their duty to safeguard the public money from being siphoned off, hence the details of the Board meeting of the PNB is important, the details like the Agenda of the meeting, Resolution adopted in the meeting for sanction and the Minutes of the meeting will help in exposing such officers. The cooperating officers are equally responsible along with Nirav Modi in conducting the scam. Once such information is made public and the officers punished, the bank authorities will work with responsibility to safeguard the public deposits and will adopt proper measure while approving loan applications, said Galgali.