SBI ordered to disclose bonds data in full by Thursday

The Supreme Court today directed the State Bank of India (SBI) to disclose all details related to electoral bonds that allowed individuals and companies to make donations to political parties.

Mar 18, 2024 - 13:27
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SBI ordered to disclose bonds data in full by Thursday

The Supreme Court today directed the State Bank of India (SBI) to disclose all details related to electoral bonds that allowed individuals and companies to make donations to political parties. This must include the "serial number" of each bond, said a five-judge bench, headed by Chief Justice of India DY Chandrachud.

"We want all information, including alphanumeric number and the serial number of bonds, if any purchased or redeemed, to be disclosed which is in your possession," said CJI Chandrachud while hearing a petition against the "incomplete data" provided by the SBI on the donations made through electoral bonds. Stating that the SBI can't be selective in disclosing all details, he said, "Don't wait for the orders of the court. We bank on the fact that the bank will be candid."

The court directed the SBI chairman to file an affidavit by 5 pm on Thursday, stating it has not suppressed any details, adding that the Election Commission shall publish the details forthwith on their website after receiving from SBI.

The court struck down the electoral bond scheme last month and directed the bank to share all details on the donations made in the last five years. It had also sent a notice to SBI saying that the data provided on electoral bonds was incomplete.

In its landmark verdict on February 15, the top court had scrapped the Centre's electoral bonds scheme that allowed anonymous political funding, calling it "unconstitutional".

 

 

 

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