Whistleblower rule to cover foreign, public sector banks

eudonymous complaints will not be covered under the scheme and such complaints will not be entertained, the RBI said.  The RBI said it would keep the identity of the complainant a secret, except in cases where complaint turns out to be vexatious or frivolous, and in such cases, action has to be initiated against the complainant.  Under the scheme, a institution can take action against motivated/vexatious complainant, after being advised by the RBI. However, such complainants would be given the opportunity of hearing, the RBI said.