SC orders SBI to disclose electoral bond details by tomorrow

The Supreme Court on Monday ordered the State Bank of India (SBI) to furnish details of electoral bonds by end of business hours tomorrow, i.e. March 12, dismissing the lender's petition seeking more time. The Election Commission has been asked to publish the details shared by SBI on its official website by 5 pm on March 15.

In a landmark verdict on February 15, the bench led by Chief Justice DY Chandrachud had scrapped the electoral bond scheme that facilitated anonymous donations to political parties. The apex court had set March 6 as the deadline for SBI to disclose information on the bonds issued so far to the poll panel.

However, on March 4, the lender moved Supreme Court seeking time till June 30 to furnish the details. The lender argued that the data of anonymous donors and that of political parties encashing the donations were stored in separate silos, and that matching them would be a time consuming process.

The Supreme Court, today, clarified that the lender did not have to match donors with donations. The SBI has to just open the sealed cover, collate the details and give the information to the Election Commission, the apex court said.

It also asked the bank about the steps taken by it for complying with the directions given by the apex court in its February 15 judgment. "In the last 26 days, what steps have you taken? Your application is silent on that," the bench said.

The court also warned that it would initiate contempt proceedings against the government-run bank if it does not comply with the order this time.

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