SBI submits all electoral bonds details to Election Commission of India

NEW DELHI: The State Bank of India (SBI) on Tuesday submitted all data related to electoral bonds to the Election Commission of India (ECI) in compliance with the strict Supreme Court regarding the matter.

"In compliance of Supreme Court's directions to the SBI, contained in its order dated Feb 15 & March 11, 2024 (in the matter of WPC NO.880 of 2017), data on electoral bonds has been supplied by State Bank of India to Election Commission of India, today, March 12, 2024," the spokesperson for the poll panel said on X.


The top court had ordered the central bank to furnish all details to the ECI by 5pm on Tuesday.

The Election Commission of India is expected to upload the data on its website by March 15 for public view in accordance with the SC's order.

The SBI has issued electoral bonds worth Rs 16,518 crore in 30 tranches since the inception of the scheme in 2018.

SC's tough directions
The SBI's submission comes a day after the SC pulled up the bank over delay in disclosure of details about electoral bonds encashed by political parties and said it expects some candour from the bank, which is the authorised financial institution under the scheme.


"Our judgment is dated February 15. We are on March 11. In past 26 days, what steps you have taken? Nothing is stated. It should have been disclosed. In the last 26 days, what steps have you taken? Your application is silent on that. We expect some candour from the State Bank of India," CJI Chandrachud had said.

SBI had sought time till June 30
The national bank told the top court it needs time to submit details of electoral bonds to the Election Commission of India as it is still collating data.

Dismissing the SBI's application seeking time till June 30 to reveal electoral bond details to EC, the five-judge SC bench - headed by CJI Chandrachud - had directed the bank to disclose all details by Tuesday.

The apex court was hearing the application filed by SBI seeking extension till June 30 to disclose details of each electoral bond encashed by political parties before the scheme was scrapped last month.


During the hearing, the bench took note of the submissions of senior advocate Harish Salve, appearing for the SBI, that more time was needed for collating the details and matching them as the information was kept in two different silos with its branches.

He said if the matching exercise was to be done away with, the SBI could complete the exercise within three weeks.

The bench said it had not directed the bank to match the details of donors and donee with other information.
(This is a developing story)
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