SBI informs SC it has submitted all data related to Electoral Bonds to Election Commission
New Delhi: The State Bank of India (SBI) informed the Supreme Court on Thursday that it has provided all electoral bonds data, including the alpha-numeric identification details associated with such bonds, to the Election Commission of India (ECI).
In a recent affidavit submitted in compliance with the apex court's order dated March 18, SBI confirmed that it has furnished all necessary information to the poll body.
The affidavit outlined the details as follows:
- The purchaser's name
- The denomination and specific number of the bond
- The political party that has encashed the bond
- The last four digits of the bank account number of political parties
- The denomination and number of the bond encashed
As per the Supreme Court's directives, the ECI is now required to upload this data on its website.
The electoral bonds scheme, which allowed donors to anonymously contribute funds to a political party by purchasing bearer bonds from SBI, was introduced through the Finance Act, 2017. This amendment affected three other statutes - the Reserve Bank of India Act, the Income Tax Act, and the Representation of People Act.
Several petitions challenging at least five amendments made to different statutes through the Finance Act, 2017 were filed before the Supreme Court. Petitioners argued that these changes paved the way for unlimited and unchecked funding of political parties.
On February 15, after nearly seven years, the Court invalidated the Electoral Bonds Scheme and directed SBI to provide details of the political parties that received contributions through such bonds from April 12, 2019, to the Election Commission of India (ECI).
Rejecting SBI's request for an extension on March 11, the Supreme Court directed the bank to disclose the following details for each electoral bond purchased:
- Name of purchaser
- Denomination of electoral bonds
- Details of each electoral bond redeemed by political parties, including the date of encashment
On March 15, the Court observed that SBI had not disclosed the bond numbers. Subsequently, on March 18, the Court instructed SBI to disclose all relevant information regarding electoral bonds, including the details of the alpha-numeric numbers attached to such bonds.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
UAE to celebrate Eid Al-Fitr on Sunday, March 30; four-day holiday announced
Abu Dhabi: The United Arab Emirates (UAE) will celebrate Eid Al-Fitr on Sunday, March 30, 2025, after the Shawwal crescent was sighted earlier today, authorities have confirmed.
The sighting officially marks the end of Ramadan and the beginning of Eid festivities across the country.
