SBI furnishes Electoral Bonds details to ECI, files affidavit before SC

New Delhi: The Chairman of the State Bank of India (SBI) filed an affidavit before the Supreme Court on Wednesday informing that the Bank has complied with the Apex Court order fully and 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, SBI Chairman said.

The affidavit, filed by SBI Chairman Dinesh Kumar Khara, states – “The State Bank of India has furnished the records to the ECI with details of purchase, denomination and name of the buyer and the date of encashment and the denominations of the bonds encashed are given.

The Chairman further confirmed that all these details were submitted to the Supreme Court of India before the close of business hours on March 12, 2024, and 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 read. 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 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 the 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, on March 12, 2024.”

SBI’s move comes in the wake of the Supreme Court's stringent directions to upload the details of the Electoral Bonds purchased and redeemed by parties.

Earlier the Apex Court had scrapped the Electoral Bonds scheme on February 15. The Top Court had declared the issuance of electoral bonds case as unlawful and directed the SBI to stop the issuance of the Electoral bonds forthwith.

The Supreme Court had directed the SBI to disclose details of the political parties that received contributions through electoral bonds. These details were to be published by the Election Commission on its website by March 13, 2024.

The SBI, however, could not furnish the details within the stipulated time and asked extension till June 30 to furnish the said details.

The Supreme Court bench led by Chief Justice of India DY Chandrachud dismissed the bank's application for an extension of time and directed that “The State Bank of India shall file an affidavit of its Chairperson and Managing Director on compliance with the directions and furnish the details of Electoral Bonds by March 12, 2024, to the Election Commission.

The Supreme Court directed the Election Commission of India to compile this information and publish it on their website by 5 PM on March 15, 2024.