SBI furnishes electoral bond details to EC after SC rebuke
Following a significant development in response to the Supreme Court’s reprimand, the State Bank of India (SBI) has now complied with the court’s directives by submitting details of electoral bonds to the Election Commission of India (ECI).
This development occurred shortly after the Supreme Court dismissed SBI’s plea for an extension to submit electoral bond details to the Election Commission. The court asserted that the bank possessed the necessary information and rejected claims of data compilation complexity.
In the aftermath of submitting electoral bond details to the Election Commission, SBI filed a compliance affidavit in the electoral bonds case, sharing information on bonds purchased and redeemed up to February 15, 2024.
According to reports, SBI disclosed that between April 1 and April 11, 2019, 3,346 electoral bonds were purchased and 1,609 bonds were redeemed. From April 12, 2019, to February 15, 2024, 18,871 electoral bonds were purchased and 20,421 bonds were redeemed, based on SBI’s data.
On March 11, the Supreme Court ordered SBI to disclose electoral bond details to the Election Commission by the close of business on March 12. SBI complied with this directive, providing the necessary details. As per the court’s order, the Election Commission is required to publish the information shared by SBI on its official website by 5 pm on March 15.
