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The Electoral Bond Scheme was announced in the Union Budget 2017-18. This scheme was implemented in 2018. SBI used to sell it only in some bank branches. These bonds were sold in various denominations ranging from Rs 1,000 to Rs 1 crore. In such a situation, SBI has provided details of electoral bonds sold for a period of 6 years in about 30 categories to the Election Commission. Its total cost is Rs 16,518 crore. Recall here that the Supreme Court had ordered that the Election Commission upload and publish the details submitted by SBI on its website by March 15.

What is the background? – Last February, the Supreme Court had struck down the practice of raising funds by political parties through electoral bonds, terming it illegal. SBI Bank was directed to submit details related to the sale of electoral bonds from 2019 to the Election Commission by March 6.

'Collecting and classifying this information is a complex process. On March 4, SBI had filed a petition in the Supreme Court demanding time till June 30. After this, the Association for Democratic Reforms (ADR) filed a petition in the Supreme Court demanding contempt of court action against SBI.

Meanwhile, the petition filed by SBI seeking additional time came up for hearing before the bench of Chief Justice Chandrachud on Monday (March 11). At the time, the Chief Justice said: 'On February 15, we ordered the publication of details of election papers. What action have SBI officials taken in the last 26 days? Nothing was said about this.

Although electoral bonds are sold in various branches, all the information related to them is collected at the SBI head office in Mumbai. Therefore, compiling information from it is an easy task. He has already submitted some documents to the Election Commission in the court. Providing the details sought by us is not a difficult task for a big bank like SBI. Even before this, SBI has completed such works on time. In such a situation, why seek time on the election bond issue?

We expect honest operations from SBI Bank. Now it is necessary to publish the details of the voter list. Collecting information in this ubiquitous Internet environment is not an impossible task. Appeal by a bank official against the decision passed by the Constitution Bench of the Supreme Court is a very serious matter and condemnable.

Therefore, the claims made by SBI are rejected and the writ petition is dismissed. SBI has to hand over all the information related to electoral bond funds received by political parties to the Election Commission by the evening of March 12. The Election Commission should upload and publish it on its website by March 15. The Chief Justice said in his order that if the details were not given, contempt of court action would be taken against the SBI officials. Earlier, opposition parties had criticized SBI as an attempt by the BJP to not release details of electoral papers till the Lok Sabha elections.