New Delhi: In a significant development, the State Bank of India (SBI) disclosed crucial information regarding electoral bonds in compliance with the Supreme Court’s directive. According to the bank’s submission to the apex court, a total of 22,217 electoral bonds were purchased by donors between April 1, 2019, and February 15, 2024. Out of these, 22,030 were redeemed by political parties.
The compliance affidavit, filed by SBI Chairman Dinesh Kumar Khara, outlined the meticulous documentation of electoral bond transactions. It included details such as the date of purchase of each bond, the names of purchasers, and the denomination of the bonds. Additionally, information regarding the date of encashment of the electoral bonds, the recipient political parties, and the denominations of the bonds encashed were also provided.
The affidavit highlighted the bank’s adherence to the court’s instructions, stating that records were meticulously maintained and furnished to the Election Commission of India (EC). These records were transmitted to the EC in digital form, in compliance with the prescribed protocols.
Notably, the affidavit revealed that electoral bonds not encashed by political parties within the validity period of 15 days were transferred to the Prime Minister’s National Relief Fund, in accordance with Gazette notification no.20 dated January 2, 2018. This measure ensured that unutilized funds were directed towards a noble cause.
The disclosure by SBI comes in the aftermath of a landmark verdict by a five-judge Constitution bench on February 15. The bench had declared the Centre’s electoral bonds scheme unconstitutional, citing concerns over anonymous political funding. As per the court’s ruling, the EC was mandated to disclose information regarding donors, the amounts donated, and the recipients by March 13.