SBI reveals purchase, redemption data for 22,217 electoral bonds to Supreme Court

According to SBI's report to the Supreme Court, the data encompasses electoral bonds purchased and redeemed between April 14, 2019, and February 15, 2024. The bank revealed that a substantial total of 22,217 electoral bonds were purchased within the specified timeframe.

The State Bank of India (SBI) on Wednesday (March 13) submitted a compliance affidavit to the Supreme Court, affirming that it has provided comprehensive details regarding electoral bonds to the Election Commission. The bank disclosed critical information, including the date of purchase, names of purchasers, denominations, and details of encashment to the Election Commission, as stated in the affidavit submitted to the Supreme Court.

According to SBI's report to the Supreme Court, the data encompasses electoral bonds purchased and redeemed between April 14, 2019, and February 15, 2024. The bank revealed that a substantial total of 22,217 electoral bonds were purchased within the specified timeframe.

Furthermore, SBI disclosed specifics regarding the period from April 1, 2019, to April 11, 2019, during which 3,346 electoral bonds were purchased. Additionally, out of these, 1,609 bonds were redeemed, as detailed in the submission to the Supreme Court.

SBI complied with the court's order on Tuesday by submitting electoral bond information to the Election Commission of India. Despite its stature as the nation's largest bank, SBI's request for an extension to release the data by March 6 was dismissed by the court on Monday.

Led by Chief Justice DY Chandrachud, the bench admonished the bank for its perceived "willful disobedience," cautioning against potential contempt proceedings.