Following a stern warning from the Supreme Court, the State Bank of India (SBI) has handed over the data related to electoral bonds, including serial numbers, to the Election Commission. This comes after the Supreme Court directed SBI to submit all information to the Election Commission.
On March 21, 2024, the Election Commission promptly uploaded all the data, including bond numbers alongside serial numbers, on its website. This move is expected to gradually reveal which party redeemed which bond, providing transparency in political funding.
Earlier, SBI filed an affidavit in the Supreme Court stating that it has provided all information to the Election Commission. This action follows the Supreme Court’s reprimand to SBI’s chairman on March 18.
On February 15, the Supreme Court had imposed an immediate stay on the electoral bond scheme, declaring it unconstitutional. The court deemed maintaining the confidentiality of bonds as unconstitutional, stating it violated the Right to Information.
After the electoral bond data became public, the Bharatiya Janata Party (BJP) emerged as the top recipient of donations, having received electoral contributions totaling ₹60.60 billion since 2018. Following closely is Mamata Banerjee’s Trinamool Congress (TMC), which received ₹16.09 billion in donations. The Congress party ranks third, having received ₹14.21 billion in electoral bonds.
The public disclosure of electoral bond data marks a significant step towards transparency in political funding, shedding light on the financial transactions of political parties.
