Supreme Court’s Ultimatum to SBI on Electoral Bonds!

The Supreme Court has instructed the State Bank of India (SBI) to reveal all information regarding electoral bonds to the Election Commission of India (ECI) by March 21. Senior Advocate Harish Salve, representing SBI, assured the court of the bank’s willingness to disclose all relevant details. The Constitution bench, headed by Chief Justice of India D Y Chandrachud, mandated the SBI to disclose the unique alphanumeric code of the bonds to the ECI.

Additionally, the bench instructed SBI’s Chairman and Managing Director to submit an affidavit by March 21, affirming the bank’s compliance with the disclosure directive. This directive includes providing details of electoral bonds purchased and encashed by political parties since April 12, 2019.

The court emphasized the need for comprehensive disclosure, covering both purchase and receipt of contributions, including alphanumeric and serial numbers of the bonds. Senior Advocate Harish Salve reiterated SBI’s commitment to full disclosure. The court ordered SBI to submit the affidavit by March 21, ensuring no information is withheld, as per its previous judgment. It further directed the ECI to promptly upload the disclosed details upon receiving them from SBI.

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