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Business News/ News / India/  Electoral Bonds Case: 22,217 bonds purchased of which 22,030 redeemed, says SBI in its compliance affidavit
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Electoral Bonds Case: 22,217 bonds purchased of which 22,030 redeemed, says SBI in its compliance affidavit

SBI shared data on electoral bonds purchased and redeemed in compliance affidavit following Supreme Court order.

The State Bank of India (SBI) said 22, 217 bonds were purchased and 22,030 bonds were redeemed between 1 April 2019 and 15 Feb 2024. (REUTERS)Premium
The State Bank of India (SBI) said 22, 217 bonds were purchased and 22,030 bonds were redeemed between 1 April 2019 and 15 Feb 2024. (REUTERS)

The State Bank of India on Wednesday filed a compliance affidavit following an order passed by the Supreme Court of India on the contentious electoral bond case on 11 March.

The government-owned bank shared details of electoral bonds purchased and redeemed till 15 February 2024 in its affidavit. The SBI affidavit, filed by Chairman Dinesh Kumar Khara, stated that they have also furnished to the Election Commission of India details like the date of encashment of the electoral bonds, the names of political parties that received the contributions and the denominations of the bonds.

SBI submits electoral bonds data: A timeline of what has happened so far

According to the SBI's compliance affidavit, a total of 3,346 bonds were purchased between 1 April 2019 and 11 April 2019.

Between 12 April 2019 and 15 February 2024- a total of 18,871 bonds were purchased while 20,421 bonds were redeemed.

SBI electoral bonds case: SC Bar Association writes to President Murmu

Overall, 22, 217 bonds were purchased and 22,030 bonds were redeemed, SBI said on Wednesday in the affidavit.

The SBI handed electoral bonds data to the Election Commission in a pen drive with two password-protected PDF files. Passwords were given in a separate envelope.

SBI electoral bonds data submitted to EC a day after Supreme Court rebuke

What Supreme Court said?

On March 11, a five-judge bench of the Supreme Court came down heavily on the SBI for asking extension of the deadline to submit electoral bonds.

The Supreme Court bench, headed by Chief Justice DY Chandrachud, dismissed SBI's plea and ordered it to disclose the details of electoral bonds to the election panel body by 12 March.

Supreme Court rejects SBI's plea on Electoral Bonds: 5 key highlights

The top court also directed the election commission to publish details shared by the SBI on its official website on Thursday by 5 pm.

Electoral bonds brought for transparency in poll funding: BJP

With the Lok Sabha election 2024 around the corner, the Supreme Court of India on 15 February scrapped the Centre's electoral bonds scheme that allowed anonymous political funding. The SC called the Electoral Bond Scheme "unconstitutional" and directed disclosure by the EC of donors, the amount donated by them, and the recipients by March 13.

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Published: 13 Mar 2024, 12:56 PM IST
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