News Brief
SBI 'Ready' With Electoral Bonds Data After Supreme Court Order: Report
Electoral Bonds (File Photo).
The State Bank of India (SBI) is reportedly “ready” with details of electoral bonds to be submitted to the Election Commission of India, in compliance with the Supreme Court's directives issued on Monday (11 March).
The apex court had earlier questioned SBI for its delay, mandating the disclosure by the close of business on Tuesday (12 March), warning of potential consequences for non-compliance.
A five-judge constitution bench, led by Chief Justice DY Chandrachud, had dismissed SBI's plea seeking an extension until 30 June for disclosure and directed the EC to publish the information shared by the bank on its official website by 5 pm on 15 March.
According to an NDTV Profit report, SBI stated readiness with the electoral bond data, adding that mapping of data was important to avoid discrepancies.
The bank also highlighted that anonymity for customers would no longer apply given the Supreme Court's disclosure mandate.
The issue stem for an earlier ruling on 15 February, which invalidated the Centre's electoral bonds scheme, branding it unconstitutional due to allowing anonymous political funding.
Subsequently, the court ordered the EC to disclose donor details, donation amounts, and recipients by 13 March, alongside the closure of the scheme.
SBI was further directed to furnish details of electoral bonds purchased since 12 April 2019, to the poll panel by 6 March.
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