SBI Complies with Supreme Court Order, Discloses All Electoral Bond Details to ECI

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SBI Complies with Supreme Court Order, Discloses All Electoral Bond Details to ECI

| Updated: March 21, 2024 19:36

The State Bank of India (SBI) has informed the Supreme Court that it has complied with the court’s directions and disclosed all details pertaining to electoral bonds to the Election Commission of India (ECI). The disclosure was confirmed in an affidavit filed by the SBI chairman on March 21, 2024.

The disclosed information includes comprehensive details of the electoral bonds, such as the serial number, URN number, journal date, date of purchase, bond number, status, date of expiry, name of the purchaser, prefix, denomination, issue branch code and issue teller status. Additionally, details of bond redemption by political parties, including the serial number, date of encashment, name of the political party, last four digits of the account number, prefix, bond number, denomination, pay branch code, and pay teller, were also shared.

The affidavit clarified that the prefix and bond number constitute the alphanumeric number of the bond. However, complete bank account numbers and KYC details of political parties and purchasers have not been made public due to cybersecurity concerns and because such information is not necessary for identifying the political parties.

The SBI has now revealed information that includes the name of the bond purchaser, the denomination and specific number of the bond, the name of the party that encashed the bond, and the last four digits of the political parties’ bank account numbers. The bank confirmed that no details, other than complete account numbers and KYC details, have been withheld from disclosure as per the court’s judgment dated February 15, 2024 and order dated March 18, 2024.

Earlier, the Supreme Court had reprimanded SBI, directing the bank to disclose all details on electoral bonds purchased or redeemed after its interim order on April 12, 2019, including their unique alphanumeric codes, to the ECI. The court had also ordered the bank to file an affidavit confirming compliance by March 21, 5 pm. On March 15, the court had issued a notice to SBI, stating that the bank was duty-bound to furnish the unique alphanumeric codes.

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