A contempt petition has been submitted to the Supreme Court as the State Bank of India (SBI) failed to meet the March 6 deadline for revealing details of electoral bonds issued to political parties. The Association of Democratic Reforms (ADR) accuses SBI and the Center of disregarding the court’s directives.
Although the Supreme Court had instructed SBI to disclose electoral bond details by March 6. The bank has requested an extension until June 30, citing practical challenges. ADR contends that SBI’s delay constitutes contempt. It challenges the court’s authority and citizens’ information rights.
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In a significant ruling on February 15, a five-judge Constitution Bench deemed the electoral bonds scheme unconstitutional. It ends the contentious method of political funding. The court directed SBI to furnish donation details and disclose the recipients of electoral bonds within three weeks. And to be published by the Election Commission of India (ECI).
The electoral bonds scheme, introduced in 2018 to promote transparency in political donations, faced criticism for its anonymity, potentially fostering corruption and unequal footing among political parties. The delay in disclosure raises concerns about accountability and adherence to legal directives in political financing.
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