SBI Sends Electoral Bonds Data

The State Bank of India handed data on electoral bonds to the Election Commission of India on Tuesday evening, in accordance with a Supreme Court decision. The poll panel, which has confirmed receipt of the data, will consolidate and deliver the results by 5 p.m. Friday, as directed.

Mar 12, 2024 - 23:21
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SBI Sends Electoral Bonds Data

The State Bank of India handed data on electoral bonds to the Election Commission of India on Tuesday evening, in accordance with a Supreme Court decision. The poll panel, which has confirmed receipt of the data, will consolidate and deliver the results by 5 p.m. Friday, as directed.

The bank's Chairman and Managing Director, however, has yet to file the affidavit certifying compliance with the court order. The Supreme Court denied a request by the State Bank of India, the country's largest bank, to extend the March 6 deadline for releasing this data. A court led by Chief Justice DY Chandrachud slammed the bank for "willful disobedience" to instructions, warning it of contempt proceedings.

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Last month, in a landmark verdict, the Supreme Court held the electoral bond scheme to be "unconstitutional" and said it violated citizens' right to information. The SBI had been directed to reveal data by March 6 and the poll panel to make this information public by March 13.

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