SEBI Responds to RTI Appeal Regarding Listed Banks and Associated Non-Profit Entities

The Securities and Exchange Board of India (SEBI) has processed an appellate order concerning an RTI application filed by appellant Bhupinder Singh [1]. The application sought extensive details regarding scheduled commercial banks, their related-party disclosures, corporate social responsibility (CSR) fund flows, and transactions involving bank-linked non-profit organizations, trusts, and foundations across financial years 2021-22 to 2025-26 [1].

Background of the RTI Application

In September 2026, appellant Bhupinder Singh submitted an application under the Right to Information Act, 2005, directed to SEBI [1]. The application sought detailed regulatory and transactional records across six broad categories, covering listed public-sector and private-sector banks and their associated non-profit entities, trusts, Section 8 companies, and implementing agencies [1].

The queries spanned several operational areas, including the regulatory framework for listed-bank universes, related-party classifications by audit committees, disclosures of CSR fund flows, information-gathering and inspection histories, enforcement outcomes, and public-private sector data comparability [1]. Specific inquiries included requests for data on bank-linked non-profit names, percentage breakdowns of CSR contributions, deposit and fixed-deposit dealings, employee secondment, premises support, and records of any regulatory actions or referrals to other authorities such as the Reserve Bank of India or the Ministry of Corporate Affairs [1].

SEBI Response and Appellate Review

The Central Public Information Officer (CPIO) of SEBI responded to the application through a letter dated September 30, 2026, leading the appellant to file an appeal on October 4, 2026 [1]. Reviewing the matter, the appellate authority noted that information regarding the list of scheduled commercial banks whose equity securities were listed during FY 2021-22 to FY 2025-26 was not maintained by SEBI in the normal course of regulating the securities market and was therefore unavailable [1].

Regarding queries concerning guidance, circulars, related-party classifications, and policy proposals, the respondent stated that these requests were in the nature of seeking clarifications and thus did not fall under the definition of "information" pursuant to Section 2(f) of the RTI Act [1]. Furthermore, responses to queries regarding specific bank disclosures, percentage ratios of resource transfers, inspection records, completed enforcement matters, adjudicatory outcomes, and comparative datasets indicated that the requested information was not available with SEBI [1].

The proceedings took place under the appellate mechanism of the Right to Information Act, 2005, involving SEBI's appellate authority and CPIO in Mumbai [1]. The requests touched upon intersectional regulatory oversight of listed commercial banks and their philanthropic or non-profit arms, which often handle corporate social responsibility allocations.

The disclosure requests highlight regulatory transparency and data availability regarding how listed financial institutions interact with sponsor-linked trusts, foundations, and non-profit entities under securities regulations.

The response underscores the distinct boundaries of data maintained by market regulators compared to specialized banking or corporate affairs authorities regarding philanthropic arms of listed entities.

Open questions remain regarding how transparency on bank-linked non-profit entities is monitored across different regulatory jurisdictions.