India National News

Electoral Bonds: Supreme Court Raps SBI Again

On Monday, the Supreme Court ordered the State Bank of India to share all information about electoral bonds used for donating to political parties.

The court said SBI Chairman must submit an affidavit by 5 p.m. on Thursday, March 21, confirming that no details have been hidden.

The Supreme Court has instructed the State Bank of India (SBI) to reveal all information about any electoral bonds bought or cashed, including alphanumeric and serial numbers.

Additionally, it ordered the Election Commission to promptly publish these details on their website once provided by SBI.

Chief Justice Chandrachud emphasized full disclosure and ‘no selective information.’ He urged transparency on electoral bonds and ensured nothing was withheld. ‘We expect all relevant details in your possession,’ he stated.

The Supreme Court admonished the SBI for not revealing electoral bond numbers, emphasizing compliance with its previous ruling.

Harish Salve, senior advocate representing SBI, assured the Court they weren’t avoiding compliance, stating that if the Court wants the electoral bond numbers, they’ll provide them.

The Court emphasized the necessity disclosing bond numbers and linking donors to recipients.

Solicitor General Tushar Mehta, representing the Centre, stated that the primary goal of implementing the electoral bonds scheme was to combat black money in politics.

He emphasized the need for the Court to be aware of how judgment is perceived outside the courtroom. Mehta noted concerns about the emergence of social media posts intended to cause embarrassment and requested the Court address this issue.

A five-judge bench on March 15 issued a notice on incomplete electoral bond details shared by SBI and issued a notice to explain the lapse.

The SBI has not disclosed who has donated to whom. Only the DMK has shared the breakup of donations by donors.

 

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