SBI Submits Electoral Bond Data to Election Commission After Supreme Court Deadline
Check the latest on electoral bonds as the State Bank of India (SBI) complies with a Supreme Court order, submitting data to the Election Commission of India (ECI). Get insights into the court's decision and its impact on political funding transparency.
New Delhi, March 12: The State Bank of India (SBI) has finally submitted all data on electoral bonds to the Election Commission of India (ECI) today, following a Supreme Court order. This comes a day after the court rejected the bank's plea for an extension until June 30th.
The Supreme Court had previously directed SBI to furnish details of electoral bonds purchased anonymously and encashed by political parties between April 12, 2019, and February 15, 2024. The deadline for submission was initially set for March 6th. However, SBI requested an extension, which was denied by the court on March 11th.
In its order, the five-judge Constitution Bench led by Chief Justice D.Y. Chandrachud noted that SBI's own submissions indicated the information was readily available. Consequently, the court directed the bank to submit the data by the close of business on March 12th. The Election Commission was further instructed to publish the details on its official website by March 15th, 5 pm.
This development comes after the Supreme Court struck down the electoral bond scheme on February 15th, citing concerns about transparency in political funding.
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