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Sbi Bank: The Electoral Bond scheme was first announced in the 2017-18 Union Budget speech when BJP’s late Arun Jaitley was the Finance Minister. An amendment was brought in the law for this purpose. This scheme came into effect last year 2018. Accordingly, the State Bank of India (SBI) was selling election bonds ranging from Rs 1,000 to Rs 1 crore.

These electoral bonds were donated by individuals and companies to political parties of their choice. Through this scheme, every political party received huge donations from corporates.

While a case was filed against the electoral bonds scheme, the Supreme Court declared the scheme against the political system and canceled the scheme on 15th of last month. Also, how much funds have the political parties received through election bonds since April 12, 2019? Who are the political parties? who SBI has been asked to file the details of the funds provided by March 6. The Supreme Court ordered the bank.

However, the Supreme Court asked the SBI to give time till June 30 to provide the details related to the election papers. The bank filed a petition. The Supreme Court heard this petition and asked SBI for time. Dismissing the petition filed by the bank, the SBI asked the Election Commission yesterday (March 12) to submit the details including the recipients of the election bonds, the political parties who cashed them and the amount of donations. Issued an action order to the bank.

SBI The Election Commission should compile the information submitted by the bank and publish it on its official website by 5 pm on the 15th, and if it fails to comply with this order, SBI The Supreme Court also warned that the bank may face contempt of court proceedings.

In this case, according to the Supreme Court’s order, SBI has released the details of election papers of political parties. The bank submitted to the Election Commission yesterday.

Filing of affidavit

State Bank of India (SBI) chairman Dinesh Kumar Kara has filed a compliance affidavit in the Supreme Court regarding the election bond issue. In it, he said that as per the directions of the Supreme Court, he has given the details of purchase and redemption of bonds between April 14, 2019 and February 15, 2024 to the Election Commission.

He also mentioned that these details include the date of purchase of electoral bonds, the names of the purchasers, their names, the date on which the electoral bonds were converted into cash and the names of the political parties that received donations.

A total of 22,217 electoral bonds have been purchased. Out of which 22,030 electoral bonds have been encashed from April 1, 2019 to February 15, 2024. Whereas, from April 1, 2019 to April 11, 2019, a total of 3,346 electoral bonds were purchased and 1,609 of them were encashed. It may be recalled here that the 2019 Lok Sabha elections started on 11th April.

Also, from April 12, 2019 to February 15, 2024, a total of 18,871 electoral bonds were purchased and 20,421 were encashed.

SBI has submitted the details of election papers in digital form to the Election Commission on Tuesday. As reported by The Read earlier, officials of the commission will review the data after Chief Election Commissioner Rajiv Kumar returns from Jammu and Kashmir on Wednesday night. The Election Commission is expected to publish the details provided by SBI on its website by March 15