Top News

SBI Fails To Submit Details Of Poll Bonds As Supreme Court Deadline Ends

Tezzbuzz Team | March 7, 2024 11:45 AM CST

State Bank has not yet shared the details of encashed electoral bonds with the Election Commission.

New Delhi :

State Bank of India (SBI) has not yet shared the details of electoral bonds encashed by political parties. The Supreme Court had directed SBI to submit the details to the Election Commission by Wednesday, but this deadline has also passed. The State Bank had approached the Supreme Court on Monday requesting time till June 30 to disclose details of electoral bonds encashed by political parties.

Read also

In an application filed before the Supreme Court, the State Bank argued that the process of retrieving information from ‘each silo’ and matching the information from one ‘silo’ to the other would take time. State Bank’s petition has not been listed for hearing yet. Sources said that no details have been shared with the Election Commission. A spokesperson for the election body said it had no information on the issue.

Last month, a five-judge Constitution bench headed by Chief Justice DY Chandrachud had struck down the electoral bond scheme and directed SBI to disclose details of each electoral bond encashed by political parties. The information should include the encashment date and denomination of the bond and should be submitted to the election panel by March 6.

In its application before the Supreme Court, SBI had argued that retrieving information from “each silo” and matching the information from one silo to the other would be a time-consuming process. The bench had also said that the Election Commission (EC) should publish the information shared by SBI on its official website by March 13.