In a recent submission to the Supreme Court, the State Bank of India confirmed compliance with the directive to reveal data regarding electoral bonds to the Election Commission. The affidavit, submitted by SBI Chairman Dinesh Kumar Khara, outlined the information furnished to the Election Commission of India. This included details such as the purchase date, purchaser’s identity, bond denomination, encashment date, political party beneficiaries, and bond denominations.
The provided data pertained to bonds acquired and redeemed from April 12, 2019, to February 15, 2024. It was conveyed in digital format to the ECI. During the specified period, a total of 22,217 bonds were purchased, with 3,346 purchased and 1,609 redeemed between April 1, 2019, and April 11, 2019. Subsequently, from April 12, 2019, to February 15, 2024, 18,871 bonds were purchased and 20,421 redeemed.
Within the mentioned timeframe, 22,217 bonds were bought, and 22,030 were redeemed. Bonds not cashed by political entities within the fifteen-day validity period were transferred to the Prime Minister’s National Relief Fund, following Gazette Notification no. 20 dated January 2, 2018.
The submission was made in compliance with a court order issued on March 11. The apex court had directed the State Bank of India to disclose the details of encashed electoral bonds to the Election Commission by the end of business hours on March 12. Failure to adhere to these directives could result in legal action for willful disobedience. However, SBI promptly complied with the court’s judgment and furnished the bond details to the ECI on Tuesday.
In a subsequent ruling, a five-judge bench led by Chief Justice D Y Chandrachud dismissed SBI’s plea for an extension until June 30 to disclose the details. Instead, the court ordered the ECI to publish the shared information on its official website by March 15, 5 p.m.
Previously, on February 15, the same five-judge constitution bench declared the electoral bonds scheme unconstitutional, citing its allowance of anonymous political funding. Consequently, the EC was instructed to disclose donor details, donation amounts, and recipients by March 13.