Electoral Bonds Data Given To ECI In Two PDF Files With Purchaser & Political Parties Details : SBI Chairman Tells Supreme Court

The Chairman of the State Bank of India (SBI) on Wednesday (March 13) filed a compliance affidavit, informing the Supreme Court that the Bank has furnished the details of electoral bonds to the Election Commission of India (ECI). The details have been provided in two separate information packets - the first containing details of the purchasers of the electoral bonds, and the second containing names of the political parties who have encashed these bonds with all the requisite details.The affidavit, affirmed by SBI Chairman Dinesh Kumar Khara, states –“The State Bank of India has ready records in which the date of purchase, denomination and name of the buyer were recorded, and [in relation to the political parties] the date of encashment and the denominations of the bonds encashed were recorded. In respectful compliance with the aforesaid directions, before the close of business hours on 12.03.2024 a record of this information was made available to the Election Commission of India (ECI) by hand delivering in digital form (password protected).”The requisite information was shared with the Election Commission of India in a sealed envelope yesterday, the affidavit reveals. Inside this envelope was a pen drive containing two password-protected PDF files, one with details of the purchasers of the electoral bonds and the other file containing names of the political parties redeeming these bonds.The SBI has also clarified that 22,217 bonds were purchased between April 1, 2019 and February 15, 2024, while the total number of bonds redeemed during this period is 22,030.The latest affidavit was preceded by an official announcement by the Election Commission of India on social media platform 'X' (formerly Twitter) last night. The post, uploaded by the handle 'Spokesperson of ECI', stated, “In compliance of the Supreme Court's directions to the SBI...data on electoral bonds has been supplied by State Bank of India to Election Commission of India, today, March 12, 2024.”This move by the SBI comes in the wake of the Supreme Court's dismissal of the bank's application for an extension of time to submit electoral bond details to the poll panel. The court, led by Chief Justice DY Chandrachud, determined that the requisite information was already within the bank's possession, rejecting claims of the complexity of compiling the data.During the hearing, Senior Advocate Harish Salve, representing the SBI, highlighted the challenges faced by the bank in reconciling donor and redemption details stored in separate databases. Despite these arguments, the court stood firm, emphasising that the bank possessed the necessary information as indicated by its KYC records.While the top court refrained from initiating contempt proceedings against the SBI at this stage, it issued a cautionary note. The order directed, “The State Bank of India shall file an affidavit of its chairperson and managing director on compliance with the directions issued above. While we are not inclined to exercise the contempt jurisdiction at this time, we place the State Bank of India on notice that this court may be inclined to proceed against it for wilful disobedience if it does not comply with the timelines indicated in this order.”Responding to this directive, Dinesh Kumar Khara, the chairperson of the State Bank of India, has now filed this compliance affidavit. The affidavit detailed the bank's actions in providing the requested information to the Election Commission of India.The details furnished by the SBI include crucial information such as the date of purchase of each electoral bond, the name of the purchaser, and the denomination of the bonds purchased. Additionally, details of each electoral bond encashed by political parties, including the date of encashment, have also been provided.The Election Commission of India has been directed to compile this information and publish it on their website by 5 PM on March 15, 2024.

Electoral Bonds Data Given To ECI In Two PDF Files With Purchaser & Political Parties Details : SBI Chairman Tells Supreme Court

Awstika Das

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Electoral Bonds Data Given To ECI In Two PDF Files With Purchaser & Political Parties Details : SBI Chairman Tells Supreme Court

Awstika Das

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