The Supreme Court has mandated the State Bank of India (SBI) to release comprehensive details about electoral bonds. This disclosure includes the dates of purchase and redemption, identities of purchasers and recipients, denominations, and the alphanumeric and serial numbers of the bonds. SBI’s Chairman, Dinesh Kumar Khara, is instructed to submit an affidavit by Thursday, 5 PM, confirming the complete disclosure of information under the bank’s possession, ensuring transparency.
The court’s decision comes amid discussions on the transparency and accountability of electoral bond transactions. It specifies that the State Bank of India must provide data from April 12, 2019, to February 15, 2024. This period saw the sale of 9,159 bonds, amounting to a total of ₹4,000 crores. The directive counters the Citizens Rights Trust’s petition to extend the disclosure period, maintaining the originally set timeline.
Furthermore, the Supreme Court dismissed requests from industry bodies such as Ficci and Assocham to postpone the release of bond numbers, emphasizing the importance of transparency over anonymity guarantees. The court responded to concerns about misinformation and misrepresentation in the media and on social media platforms, affirming its commitment to transparency and the rule of law.
In a related directive, the Supreme Court had previously instructed the Election Commission of India (ECI) to make public the information on electoral bonds, a step towards enhancing the transparency of political funding. The ECI complied, revealing contributions from various corporates to political parties. Notably, the BJP, Congress, and Trinamool Congress were among the top recipients of contributions through electoral bonds.
The Supreme Court’s unanimous judgment on February 15 marked a significant move towards ensuring accountability in the financing of political parties. The decision to disclose electoral bond details aligns with the broader goal of fostering transparency in political donations, amidst ongoing debates over donor anonymity and its implications for democratic processes.
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