Supreme Court Orders Full Disclosure of Electoral Bond Details by SBI

Supreme Court Orders Full Disclosure of Electoral Bond Details by SBI

In a significant development, the Supreme Court, led by Chief Justice DY Chandrachud, has directed the State Bank of India (SBI) to reveal comprehensive details regarding electoral bonds. This mandate includes disclosing the serial numbers of each bond, addressing concerns over incomplete data previously provided by the bank. The decision follows a petition challenging the SBI’s handling of electoral bond donations.

Under the court’s instructions, the SBI chairman must submit an affidavit by Thursday, 5 pm, confirming the absence of any suppression of information. Additionally, the Election Commission is tasked with uploading these details once furnished by the SBI. This directive stems from the court’s recent annulment of the electoral bond scheme and its demand for full disclosure of donation records spanning the past five years.

Chief Justice Chandrachud emphasized the necessity for complete transparency, asserting that the SBI cannot adopt a selective approach to disclosure. Expressing dissatisfaction with the bank’s prior conduct, he highlighted the imperative of divulging all conceivable data related to electoral bonds without delay.

“The SBI’s stance appears to be ‘you instruct us, and we’ll comply,’ which is untenable. When we demand ‘all details,’ it encompasses every conceivable piece of information. There should be no room for suppression,” remarked the Chief Justice, emphasizing the expectation of candid cooperation from the bank.

This development underscores the judiciary’s commitment to upholding transparency in political funding, marking a crucial step towards accountability and public trust in electoral processes.

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