SBI says 22,030 electoral bonds redeemed between Apr 1, 2019 and Feb 15, 2024
The apex court had scrapped the Centre's controversial electoral bonds scheme that allowed anonymous political funding, calling it "unconstitutional".
The State Bank of India (SBI) has sent all electoral bonds data to Election Commission on Tuesday evening, March 12, as per Supreme Court's order. The bank disclosed that a total of 22,217 electoral bonds were purchased between April 1,2019 and February 15,2024 out of which 22,030 bonds were redeemed.
As per the SBI affidavit, electoral bonds were not encashed by political parties for 15 days in this period. It was transferred to PM National Relief Fund.
The SBI furnished the date on which electoral bond was purchased, name of the purchaser and denomination of bonds. It also disclosed the date of encashment of electoral bonds. Also, the SBI disclosed names of political parties who received electoral bonds in the given period.
Chairman of State Bank of India (SBI) files an affidavit in the Supreme Court apprising that in compliance of the top court’s order, date of purchase of each Electoral Bond, the name of the purchaser and the denomination of the Electoral Bond purchased has been furnished to the… pic.twitter.com/GjAcgcBIM5
— ANI (@ANI) March 13, 2024
The top court warned the country's largest public sector lender to disclose the details of the electoral bonds encashed by political parties to the Election Commission by the close of the business hours on March 12 and warned that the court may proceed against it for "wilful disobedience" if it failed to comply with its directions and deadlines.
"In compliance of Hon’ble Supreme Court's directions to the SBI, contained in its order dated Feb 15 & March 11, 2024 (in the matter of WPC NO.880 of 2017), data on electoral bonds has been supplied by State Bank of India to Election Commission of India, today, March 12, 2024," ECI said in a statement.
A five-judge constitution bench headed by Chief Justice DY Chandrachud, while dismissing the SBI's plea seeking extension of time till June 30 to disclose the details, also directed the EC to publish the information shared by the bank on its official website by 5 pm on March 15.
The order was passed by the bench, which also comprised Justices Sanjiv Khanna, BR Gavai, JB Pardiwala, and Manoj Misra. "SBI is directed to disclose the details by the close of business hours of March 12," the bench said, adding, "As regards the ECI, we direct that ECI shall compile the information and publish the details on its official website no later by 5 pm on March 15, 2024," the Bench said.
In a landmark verdict delivered on February 15, the same five-judge constitution bench had scrapped the Centre's controversial electoral bonds scheme that allowed anonymous political funding, calling it "unconstitutional", and ordered disclosure by the EC of donors, the amount donated by them and the recipients by March 13.
The bench said the SBI chairman and managing director will file an affidavit on compliance with the directions issued by the top court.
First Published: Mar 12, 2024 9:45 AM IST
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
'Borrowed' leaders: Congress hits out at AAP for not fielding their own candidates in Punjab
Apr 28, 2024 9:53 PM
EC asks AAP to modify election campaign song and Kejriwal's party is miffed
Apr 28, 2024 9:25 PM