Electoral Bonds Saga Unfolds as SBI Reveals Buyer and Beneficiary Details

Electoral Bonds Saga Unfolds as SBI Reveals Buyer and Beneficiary Details

The Electoral Bonds data of buyers and beneficiaries will be available on the election commission’s website by 5 p.m. on 15th March

New Delhi, 13 March 2024

In compliance with the stringent order from the Supreme Court given on Monday, the State Bank of India (SBI) has given the Election Commission of India (ECI) access to the Election Bonds data on Tuesday. The Election Commission has received the detailed information from the State Bank of India (SBI) on the buyers and beneficiaries of the now-cancelled electoral bonds. The data will be available on the Election Commission’s website by 5p.m. on March 15. The bank’s chairman and managing director, however, have failed to turn in the affidavit attesting to their adherence to the court’s directive.

SBI has issued electoral bonds totalling an astounding Rs.16, 518 crore in 30 different issuances since the scheme’s launch in 2018. The government’s electoral bonds program, which allowed for anonymous political contributions, was abolished by the Supreme Court on February 15 in a landmark ruling that was deemed “unconstitutional.” Additionally, the Election Commission was ordered by the court to provide the names of contributors, the amounts they gave, and the recipients of their contributions.

The State Bank of India had earlier appealed for an extension until June 30 to provide these facts, which was rejected by the Supreme Court directing the bank to provide the Election Commission with all relevant data by Tuesday.

Delhi City India