SBI submits Electoral Bond data post Supreme Court rebuke; check details

Despite being the country's largest bank, the State Bank of India's plea to extend the March 6 deadline for releasing the electoral bond data was rejected by the top court on Monday.

Team Asianet Newsable

First Published Mar 12, 2024, 7:30 PM IST | Last Updated Mar 12, 2024, 7:30 PM IST

A day after iy faced a stern order from the Supreme Court to submit data about electoral bonds to the Election Commission of India, the State Bank of India (SBI) on Tuesday (March 12) evening submitted the information, aligning with the court's directive. However, as of now, the bank's Chairman and Managing Director has not filed the affidavit confirming compliance with the court's order.

Despite being the country's largest bank, the State Bank of India's plea to extend the March 6 deadline for releasing the electoral bond data was rejected by the court on Monday. Chief Justice DY Chandrachud led the bench, expressing strong disapproval for what was deemed "willful disobedience" by the bank and warning of potential contempt proceedings.

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The bank justified its request for an extension, citing the need for additional time to collect, cross-check, and release data stored in two "silos" to maintain confidentiality. Claiming the supposed secrecy of the information, the bank sought an extension until June 30, a deadline extending well beyond the conclusion of the 2024 general election.

In response, the Supreme Court said that donor details were readily available at the SBI's Mumbai branch, suggesting a straightforward process of "opening covers, collating details, and providing information." The court's refusal to exercise contempt jurisdiction at the time came with a clear notice that proceedings might ensue if the bank failed to comply with the specified timelines.

In a landmark verdict last month, the Supreme Court declared the electoral bond scheme "unconstitutional," asserting its infringement on citizens' right to information. The SBI was directed to disclose the data by March 6, with the Election Commission expected to release the information by March 13.

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