Supreme Court Directs SBI to Disclose Electoral Bond Details

In a significant development, the Supreme Court of India has ordered the State Bank of India (SBI) to disclose all details related to electoral bonds, including the bond numbers. The apex court emphasized that SBI should not be selective in disclosing information and must include all details in its possession.

According to the court’s judgment on Monday, March 18, SBI has been directed to submit the electoral bond numbers to the Election Commission of India (ECI) and file a compliance affidavit by March 21. Once received, the ECI will promptly publish these details on its website.

Chief Justice of India (CJI) DY Chandrachud stressed the importance of transparency, stating, “We will say SBI shall disclose the bond numbers and also that you should file an affidavit stating that you have not suppressed any information.” The court set the cut-off date for disclosure as the date of the interim order, April 12, 2019, ensuring that all concerned parties are duly informed.

Senior Advocate Harish Salve, representing SBI, assured the court that the bank would provide all the information it possesses without withholding any details. He highlighted the challenges faced by SBI, noting the scrutiny it faces from various quarters.

Meanwhile, the Congress party intensified its criticism of the Narendra Modi-led government over electoral bonds, accusing it of “hafta vasuli” or extortion. Congress General Secretary Jairam Ramesh alleged that 21 firms under investigation by agencies like the CBI, ED, or I-T department have made donations through electoral bonds.

As the electoral bond controversy continues to unfold, with allegations of corruption and lack of transparency, the Supreme Court’s directive to disclose all bond details marks a significant step towards ensuring accountability and fairness in political funding.

Stay tuned for further updates on this evolving issue.