Electoral Bond Details Submitted to Election Commission by State Bank of India
The State Bank of India (SBI) has complied with the Supreme Court's order, submitting all information related to electoral bonds to the Election Commission of India today, March 21st, 2024.
In an affidavit filed with the Supreme Court, SBI Chairman Dinesh Kumar Khara confirmed the details provided include:
- Electoral bond number
- Denomination of the bond
- Name of the political party that received the bond
- Last four digits of the party's bank account number used for encashment
However, citing cybersecurity concerns, SBI has withheld certain information from public disclosure. This includes:
- Complete bank account numbers of political parties
- KYC details of the political party and the bond purchaser
The affidavit emphasizes that SBI has not retained any information beyond what was submitted to the Election Commission.
This action follows the Supreme Court's directives on March 18th, 2024, requiring SBI to provide comprehensive details of electoral bond transactions to the Election Commission for public access. The Court also directed SBI to file an affidavit by today's date to confirm compliance.
The Election Commission is expected to publish the information on its website once received.
This development comes after the Supreme Court raised concerns on March 15th regarding incomplete data provided by SBI earlier. The Court had specifically noted the absence of electoral bond numbers, which had previously been mandated for disclosure.
With the submission of this information, the Election Commission is now empowered to increase transparency surrounding electoral bond transactions in India.
