The Supreme Court emphasized on Monday that the State Bank of India (SBI) must provide full disclosure of all electoral bond details it possesses, including unique bond numbers revealing the connection between the purchaser and the political party receiving the bonds. Chief Justice D Y Chandrachud, leading a five-judge bench, reiterated that the apex court’s previous verdict in the electoral bonds case mandated the SBI to disclose all bond details without exception.
Addressing the non-disclosure of unique alphanumeric numbers, the Supreme Court issued a notice to the SBI, urging the bank to clarify its reasons for not complying with the court’s directives. The court emphasized that the SBI has a duty to disclose this information and should not be selective in its approach. The court had previously issued an interim order in April 2019, directing political parties to submit details of donations received and anticipated donations to the Election Commission (EC) in sealed covers.
In a landmark ruling on February 15, the Supreme Court invalidated the government’s electoral bonds scheme, which permitted anonymous political funding, deeming it unconstitutional. The court ordered the EC to disclose information regarding donors, the amounts donated, and the recipients by March 13. This decision underscores the court’s commitment to transparency and accountability in political financing.
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