New Delhi: In a last-minute move, the State Bank of India (SBI) has approached the Supreme Court seeking an extension of the deadline to share information about electoral bonds with the Election Commission. The apex court had earlier directed SBI to furnish the details by March 6, 2024.
The Supreme Court had previously ordered a halt to the sale of electoral bonds and directed SBI, the sole authorized channel for purchasing these bonds, to provide details of transactions and the political parties that received them. This information was meant to be published by the Election Commission on its website by March 13, 2024.
SBI’s request for an extension comes as the deadline approaches. The bank is now seeking additional time until June 30, 2024, to fulfill the court’s order.
The Supreme Court’s judgment on electoral bonds came after concerns were raised about their potential for anonymous donations and lack of transparency. The court ruled that information about corporate donors using electoral bonds must be disclosed, citing potential for quid pro quo arrangements.
The move has sparked interest, especially considering the significant contributions received by various political parties through electoral bonds in the last financial year. News reports indicate that the Bharatiya Janata Party (BJP) received over Rs 1,300 crore, while the Congress received around Rs 171 crore. Notably, the BJP’s total contributions in FY2022-23 were over Rs 2,100 crore, with over 60% coming from electoral bonds.
The Supreme Court is yet to respond to the SBI’s application for an extension.
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