SBI Submits Electoral Bond Data to Election Commission


New Delhi: In compliance with the Supreme Court’s directive, the State Bank of India (SBI) has provided the Election Commission with the transactional data of electoral bonds. This move is set to unveil the financial contributions received by political parties within the next two days.

The data, described as rudimentary by sources within the Election Commission, details the purchasers, denominations, and beneficiaries of the electoral bonds. The challenge now lies in processing and systematically uploading this raw data onto the Election Commission’s website by the deadline of March 15.

Background of the Supreme Court’s Mandate

The Supreme Court, led by Chief Justice DY Chandrachud and comprising Justices Sanjeev Khanna, B.R. Gavai, J.B. Pardiwala, and Manoj Mishra, had previously declared the Centre’s electoral bond scheme unconstitutional. The bench ordered the immediate cessation of the scheme and directed SBI to furnish detailed records of electoral bonds sold since April 12, 2019, to the Election Commission by March 6.

On Monday, the apex court reiterated its stance, rejecting SBI’s request to postpone the disclosure deadline to June 30. The court emphasized the importance of adhering to the set timeline, warning of potential consequences for deliberate non-compliance.

SBI Ecowrap report

The Election Commission is now tasked with the publication of these details on its official portal by 5 pm on March 15, ensuring transparency ahead of the Lok Sabha elections. The bench is also considering separate petitions for contempt action against SBI for potential defiance of the court’s February 15 orders.