Supreme Court Mandates Full Disclosure of Electoral Bond Details by SBI

The Supreme Court of India has mandated the State Bank of India (SBI) to provide complete transparency regarding electoral bonds. This includes sharing the alphanumeric serial numbers that could potentially reveal the identities of donors to political parties. The apex court's insistence on full disclosure underscores its commitment to transparency in political funding.

Presided over by Chief Justice DY Chandrachud, the five-judge bench, which includes Justices Sanjiv Khanna, B R Gavai, J B Pardiwala, and Manoj Misra, reiterated the court's previous judgment from February. The bench clarified that the SBI is expected to comply without awaiting further instructions.

The Supreme Court has ordered SBI Chairman Dinesh Khara to submit an affidavit by Thursday, 5 pm, confirming that all details within the bank's knowledge have been disclosed, leaving no information concealed.

The bench stated, "The SBI must ensure that the disclosure is not selective but comprehensive, including the electoral bond numbers." Senior advocate Harish Salve, representing SBI, assured the court that the bank would provide all requested information without reservation.

In defense of the electoral bonds, Solicitor General Tushar Mehta, representing the Central government, argued that the bonds were introduced as a strategy to combat the circulation of black money in political funding.

Addressing concerns about the public perception of the court's judgment, Mehta highlighted the unintended consequences of media scrutiny and social media discussions that may arise from the court's decisions. Chief Justice Chandrachud responded by affirming the judiciary's role in upholding the rule of law and the Constitution, regardless of external discussions or criticisms.

The Supreme Court's recent actions follow its criticism of SBI for previously released electoral bond data that lacked unique identification numbers. The court emphasized that SBI is obligated to provide this information. According to SBI, a total of 22,217 electoral bonds were purchased between April 1, 2019, and February 15 of this year, with 22,030 being redeemed by political parties. This data was made public last Thursday, in line with the Supreme Court's directives.