SBI submits electoral bond details to SC

From April 1, 2019, to February 15, 2024, a total of 22,217 electoral bonds were purchased, out of which 22,030 were redeemed.

| Updated: 13 March, 2024 4:35 pm IST

NEW DELHI: In a recent development, the State Bank of India (SBI) has submitted a compliance affidavit in the ongoing electoral bonds case. The affidavit, which was filed in the Supreme Court, details the bank’s adherence to the court’s directives regarding the disclosure of information related to electoral bonds.

The Supreme Court had previously rejected SBI’s request for an extension to furnish the details of electoral bonds, prompting the bank to comply within the stipulated timeframe. As per the affidavit, SBI has provided comprehensive records to the Election Commission of India (ECI), including the purchase details, buyer names, and other relevant data.

From April 1, 2019, to February 15, 2024, a total of 22,217 electoral bonds were purchased, out of which 22,030 were redeemed. The SBI’s Chief Managing Director, Dinesh Khara, signed off on the affidavit, ensuring the bank’s full cooperation with the legal process. “In the last 26 days, what steps have you taken? Your application is silent on that,” a five-judge top court bench headed by Chief Justice DY Chandrachud had asked the SBI.

SBI’s records include detailed information such as the date of purchase, denomination, and name of the buyer for each electoral bond. Additionally, the date of encashment, the name of the political parties who received the contributions, and the denomination of the bonds encashed were also recorded and furnished to the ECI.

As the case progresses, the information provided by SBI will play a crucial role in the Supreme Court’s assessment of the electoral bonds system and its implications for the future of electoral financing in the country. The court’s final judgment is eagerly awaited by all stakeholders involved.