On March 12, in compliance with the Supreme Court’s directive issued on March 11, the State Bank of India has transmitted electoral bond information to the Election Commission of India, as per Bar and Bench reports. The Election Commission has been instructed to make the data publicly accessible on its website by March 15, 2024.
The Supreme Court, on March 11, denied the State Bank of India’s plea for an extension until June 30, 2024, to reveal information regarding electoral bonds encashed by political parties. This includes details such as the date of encashment and the denomination of the electoral bonds. SBI has been instructed to disclose these details by the end of business hours on March 12.
The highest court mandated the bank to reveal information about the electoral bonds encashed by political parties to the Election Commission by the end of business hours on March 12. The court cautioned the largest public sector lender in the country, stating that it could face consequences for “wilful disobedience” if it did not adhere to the given directives and deadlines.
By March 15, 2024, the Election Commission of India plans to publish all data on its website for public access. Additionally, the ECI will disclose electoral bond filings, a practice previously confined to sealed covers submitted only to the Supreme Court.
Update:
In the electoral bonds case, the State Bank of India (SBI) informed the Supreme Court that out of the 22,217 electoral bonds purchased between April 1, 2019, and February 15, 2024, political parties have redeemed 22,030. The compliance affidavit, filed Wednesday, included details on the date of encashment of electoral bonds submitted to the Election Commission. Additionally, SBI furnished information on the names of political parties that received donations to the EC.
