SBI readies documents on Electoral Bonds as Supreme Court’s March 12 deadline closes in: Report
- The Supreme Court of India's five judge bench, in a landmark judgement had done away with the electoral bond scheme terming it as ‘unconstitutional’
The State Bank of India (SBI) has reportedly readied the documents on detailing electoral bonds. The nationalised bank had sought an extension from the Supreme Court of India to disclose the documents on 30 June, which the apex court rejected. The Supreme Court of India has asked SBI to disclose details on electoral bonds on 12 March, today.
According to NDTV report, the SBI has readied all the documents, and will submit the information on electoral bonds to Supreme Court later today.
The Supreme Court of India's five judge bench, in a landmark judgement had done away with the electoral bond scheme terming it as ‘unconstitutional’. The apex court had scrapped the controversial scheme of anonymous political funding on 15 February.
Notably SBI is the only authorised financial institution under the electoral bond scheme.
Ordering the closure of the scheme, the Supreme Court had directed SBI to submit by March 6 the details of the electoral bonds purchased since April 12, 2019 till date to the Election Commission.
On Monday, the apex court dismissed SBI's plea seeking an extension of time and ordered it to disclose the details of electoral bonds to the Election Commission by close of business hours on March 12.
The SBI had said that the retrieval of information on electoral bonds from "each silo" and the procedure of matching the information of one silo to that of the other would be a time-consuming exercise.
During the hearing on SBI's application seeking extension of time, the five-judge constitution bench headed by Chief Justice D Y Chandrachud told senior advocate Harish Salve, who was representing the bank, that the plea was "absolutely silent" about the steps taken to comply with its directions.
Opposition leaders in India hailed the Supreme Court judgement and claimed that the Prime Minister Narendra Modi government's implementation of the Citizenship Amendment Act (CAA) on Monday 11 March, was an attempt to divert the country's attention from the electoral bond scheme.
"With the Supreme Court's decision, the country will soon come to know who donated to the BJP through electoral bonds. This is the first step in exposing the corruption, scams and transactions of the Modi government," Congress president Mallikarjun Kharge said in a post in Hindi on 'X'.
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Business NewsNewsIndiaSBI readies documents on Electoral Bonds as Supreme Court’s March 12 deadline closes in: Report
First Published:12 Mar 2024, 03:17 PM IST
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