Electoral Bonds: SBI Discloses Full Details Including Alpha-Numeric Numbers To EC

Following the Supreme Court’s strict directive to the State Bank of India (SBI), the bank has submitted all details including the alpha-numeric numbers to the Election Commission of India (ECI). The unique identification numbers that will aid in matching donor names with the particular political party that received it.

An affidavit complying with the top court’s directive was submitted by the SBI. The affidavit stated that the bank had submitted all details to the Court except the complete account numbers and the KYC details, which have been withheld.

As per the affidavit, the details furnished by SBI on electoral bonds includes the date of encashment, bond number, denominations, name of the political party to whom it was given, the last four digit of account number, and the payment branch code. It also includes details about the donor including URN number, date of purchase, date of expiry, journal date, name of the donor, issue branch code and status.

The Supreme Court, previously, had ordered SBI to disclose all details related to electoral bonds, especially the unique identification numbers to establish the connection between donors and the parties. A five-judge bench, chaired by Chief Justice DY Chandrachud, had directed the bank to refrain from being selective when disclosing information. The apex court stated that “every bit of information” was required to be revealed by the bank.

The court had also ordered SBI to submit an affidavit by March 21 confirming that all details had been disclosed. It also asked the Election Commission to upload the information submitted by the SBI on its official website.

Major trade associations including Federation of Indian Chambers of Commerce and Industry (FICCI), Confederation of Indian Industry (CII) and the Associated Chambers of Commerce and Industry of India (ASSOCHAM) had challenged the decision claiming that the purchases made were based on the guarantee of anonymity. However, the Court had rejected the petition.

On March 15, the Supreme Court had struck down the electoral bond scheme, calling it “unconstitutional”. Citing violations of the right to information, the Court ordered the SBI to disclose information concerning the electoral bonds to the ECI.