Tamil Nadu Minister PTR Palanivel Thiyagarajan has unleashed scathing criticism against the State Bank of India (SBI) for its request for more time to disclose details of Electoral Bonds, labeling the move as a “shameless farce.” Thiyagarajan expressed his dismay over the delay, stating that even the smallest bank can efficiently maintain such data, and for an institution like SBI, retrieving the information should take no more than two minutes.In a social media post on X, the DMK Minister condemned SBI’s plea for an extension to disclose details related to election bonds, asserting that it is a tragic state of affairs when the nation’s largest bank stoops to such depths.
Last month, the Supreme Court issued a directive to cancel the system of political parties receiving donations through electoral bonds. Additionally, the court mandated SBI, which distributed the election bonds, to submit financial details received by parties through the bonds over the last six years to the Election Commission by March 6.
However, SBI recently informed the Supreme Court that it requires additional time until June 30 to disclose the details concerning the election bonds. The bank cited the inability to complete the task within the court’s three-week deadline as the reason for its request for an extension.
The delay in the disclosure of electoral bond details by SBI has sparked outrage and raised concerns regarding transparency and accountability in political funding. Critics argue that the postponement undermines the principles of democracy and transparency, as it hampers efforts to ensure fair and transparent electoral processes.