SBI Submits Electoral Bonds Data To Election Commission

The State Bank of India submitted data about electoral bonds to the Election Commission of India on Tuesday evening, in line with a stern order from the Supreme Court.

"...Data on electoral bonds has been supplied by State Bank of India to Election Commission of India, today, March 12, 2024," the poll body said in a post on X (formerly Twitter).

The Commission is due to collate the data and make it public on its website no later than 5 p.m. on March 15, as the court had ordered.

On Monday, the apex court rejected a plea by SBI to extend the March 6 deadline to release this data. A bench, led by Chief Justice DY Chandrachud, came down strongly on the bank for "willful disobedience" of orders, and warned it of contempt proceedings if it failed to meet this deadline.

The top court noted that contributors under this scheme were required to submit a KYC form and proof of payment through cheque or a demand draft. Therefore, details of the contributors are readily available with the SBI, the court said.

Last month, the top court struck down the electoral bond scheme in a unanimous ruling and called it unconstitutional.

The development comes ahead of announcement of the Lok Sabha elections.