X: @the_news_21
The State Bank of India (SBI) disclosed to the Supreme Court on Wednesday that a total of 22,217 electoral bonds were procured and 22,030 redeemed by political parties between April 1, 2019, and February 15, 2023.
In a compliance affidavit submitted in the apex court, the SBI affirmed that it has adhered to the court’s directive by furnishing the details of electoral bonds to the Election Commission of India (ECI) before the conclusion of business hours on March 12.
According to the affidavit filed by SBI’s chairman Dinesh Kumar Khara, comprehensive information has been provided, including the date of purchase of each electoral bond, the names of the purchasers, and the denomination of the bonds purchased.
Furthermore, the affidavit states that the bank has furnished details to the EC concerning the date of encashment of the electoral bonds, the names of political parties that received the contributions, and the denominations of the bonds.
The submission of these details to the Supreme Court comes amidst heightened scrutiny and debate surrounding the use of electoral bonds as a means of political funding. Electoral bonds have been a subject of contention due to concerns regarding transparency and the anonymity of donors.
The disclosure by the SBI sheds light on the extent of utilization of electoral bonds by political parties over the specified period. It provides valuable insights into the dynamics of political funding and the mechanisms employed by parties to raise financial resources for their campaigns and activities.
The Supreme Court’s oversight of the electoral bond scheme underscores the significance of transparency and accountability in the electoral process. As the apex court continues to monitor developments in this regard, stakeholders are keenly observing the implications of electoral bond usage on democratic practices and electoral integrity.
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