New Delhi: In accordance with the directive of the Supreme Court, the State Bank of India (SBI) on Tuesday sent the details of electoral bonds to the Election Commission of India (ECI), sources said. The SBI, which sought extension of time earlier, submitted the data after the apex court took a serious view of the matter. On Monday, the top court set a 24-hour deadline for the SBI and asked the bank to send the details of the electoral bonds to the poll body by the time the day's business hours conclude on Tuesday.
As per reports, the State Bank of India has issued the electoral bonds worth Rs 16,518 crore in about thirty tranches since 2018, when the bonds scheme was launched in the country. Now that the bank has furnished the data to it, the Election Commission of India will have to make available these details on its official website by 5 pm on March 15. This has assumed much significance amidst reports that the ECI will announce the schedule for the Lok Sabha elections later this month.
On the other hand, the Supreme Court scrapped the Central government's electoral bonds scheme in its February 15 order. At that time, it was interpreted as a setback to the BJP-led National Democratic Alliance (NDA) government at the centre. However, the top court called it as unconstitutional to allow anonymous political funding during elections.
Later, the SC asked the SBI to disclose the details but the bank had sought time till June 30. However, the top court declined the bank's plea.
The electoral bonds scheme was aimed at bringing transparency in the funding of political parties during elections by offering an alternative for the predominant cash donations. The Centre made the State Bank of India as the sole authorised bank for implementing the electoral bonds scheme.
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