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‘What steps have you taken in 26 days’: SC pulls up SBI on electoral bonds


NEW DELHI: The Supreme Court on Monday pulled up State Bank of India (SBI) over delay in disclosure of details about each electoral bond encashed by political parties and said it expects some candour from the bank, which is the authorised financial institution under the scheme.
“Our judgment is dated February 15. We are on March 11. In past 26 days, what steps you have taken? Nothing is stated. It should have been disclosed. In the last 26 days, what steps have you taken? Your application is silent on that. We expect some candour from the State Bank of India,” CJI Chandrachud said.
The national bank told the top court it needs time to submit details of

electoral bonds

to the Election Commission of India as it is still collating data.
A five-judge Constitution bench of the Supreme Court was hearing the application filed by SBI seeking extension till June 30 to disclose details of each electoral bond encashed by political parties before the scheme was scrapped last month.

The SBI has to just open the sealed cover, collate the details and give the information to the Election Commission, the bench said.
In a landmark verdict delivered on February 15, a five-judge constitution bench scrapped the

Centre’s electoral bonds scheme

that allowed anonymous political funding, calling it ‘unconstitutional’. It had also ordered disclosure by the Election Commission of the donors, the amount donated by them, and the recipients by March 13.
On March 4, the SBI moved the apex court seeking extension till June 30 to disclose the details of the electoral bonds encashed by political parties.

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