State Bank of India submits electoral bond details to top court

THE State Bank of India (SBI) told the Supreme Court on Wednesday (13) that 22,217 electoral bonds were purchased and 22,030 redeemed by political parties between April 1, 2019 and February 15 this year.

In a compliance affidavit filed in the apex court, the SBI said as per the court’s direction, it has made available the details of electoral bonds to the Election Commission of India before the close of business hours on March 12.

It said details, including the date of purchase of each electoral bond, names of the purchaser, and the denomination of the bonds purchased have been furnished.

The affidavit, filed by SBI’s chairman Dinesh Kumar Khara, said the bank has also furnished to the EC details like the date of encashment of the electoral bonds, the names of political parties that received the contributions, and the denominations of the bonds.

On March 11, a five-judge Constitution bench headed by Chief Justice D Y Chandrachud dismissed the SBI’s plea seeking an extension of time and ordered it to disclose the details of electoral bonds to the EC by close of business hours on March 12.

The apex court had also directed the EC to publish the details shared by the bank on its official website by 5 pm on March 15.

In a landmark verdict delivered on February 15, a five-judge Constitution bench had scrapped the Centre’s electoral bonds scheme that allowed anonymous political funding, calling it “unconstitutional” and ordered disclosure by the EC of donors, the amount donated by them and the recipients by March 13.

Ordering the closure of the scheme, the top court had directed the SBI, the authorised financial institution under the scheme, to submit by March 6 the details of the electoral bonds purchased since April 12, 2019, till date to the EC. (PTI)