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SBI informs the Supreme Court that it sent the Election Commission the relevant electoral bond information
Arpita Kushwaha | March 21, 2024 7:20 PM CST

On Thursday, the State Bank of India informed the Supreme Court that it had given the Election Commission all the information pertaining to the electoral bonds it had.

theindiaprint.com sbi informs the supreme court that it sent the election commission the relevant el

The SBI chairman said that the entire bank account numbers and KYC information of the political parties have not been made public “as it may compromise the security of the account (cyber security)” in a compliance document that was submitted to the Supreme Court.

In a similar vein, buyer KYC information is also kept confidential for security reasons—in addition to the fact that it isn’t entered into or gathered by the system. Nevertheless, they are not required to name the political parties, according to bank head Dinesh Kumar Khara’s affidavit.

According to the affidavit, SBI has disclosed information that will display the bond’s denomination and unique number, the buyer’s name, the party that encashed it, the last four digits of the political parties’ bank account numbers that redeemed the bond, and the denomination and unique number of the bond that was encashed.

“On March 21, 2024, the State Bank of India provided or disclosed all details of the electoral bonds that are in its possession and custody to the Election Commission of India,” it said.

“It is respectfully submitted that the SBI has now disclosed all details and that no details (other than complete account numbers & KYC details) have been withheld from disclosure in terms of the directions contained in… The judgment dated February 15, 2024, read with an order dated March 18, 2024, passed by this court,” the affidavit stated.

The Supreme Court ordered the SBI to cease being “selective” and provide “complete disclosure” of all information pertaining to the electoral bonds scheme by March 21. This directive was given on March 18.

The highest court had ruled that the particular bond numbers that would link the purchasers to the political parties of the recipients must be published.


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