Electoral bonds
The Supreme Court recently took significant steps in addressing the issue of transparency of Electoral bonds in political funding by summoning the State Bank of India (SBI) regarding the disclosure of unique alphanumeric codes on electoral bonds. These codes are crucial for matching donations to political parties, ensuring accountability and transparency in the electoral process. The Court’s actions followed SBI’s submission of details regarding the purchase and redemption of electoral bonds to the Election Commission of India (ECI), as directed earlier.
However, during the hearing, it was noted that SBI had not disclosed the bond numbers, a critical piece of information as per the Court’s previous directives. Chief Justice of India, D Y Chandrachud, presiding over a five-judge Constitution bench, expressed disappointment over this omission. He highlighted that the Court’s judgment specifically mandated SBI to furnish all details of the electoral bonds, including the bond numbers, purchaser’s name, amount, and purchase/redemption dates. The Chief Justice emphasized the importance of full compliance with the Court’s directives, stating that SBI was duty-bound to disclose all relevant information.
Advocate Prashant Bhushan, representing the petitioner NGO Association for Democratic Reforms, pointed out that SBI, in its application seeking more time, had indicated possession of the bond numbers and other related data, suggesting that the information was available but had not been disclosed. This raised concerns about the transparency and accountability of the electoral funding process.
Solicitor General Tushar Mehta, though not representing SBI, urged the Court to issue notice to the bank, indicating that they may have something pertinent to add to the proceedings. The Court agreed, directing its registry to issue notice to SBI, with the matter to be addressed by Monday. Additionally, the Court granted a request from the ECI to return the electoral bonds data deposited with the Supreme Court registry. This data would be scanned, digitized, and returned to the ECI for uploading on its website, ensuring public access to this critical information.
In summary, the Supreme Court’s actions underscore its commitment to upholding transparency and accountability in political funding. By summoning SBI and insisting on the disclosure of all relevant details, including the unique alphanumeric codes on electoral bonds, the Court aims to ensure the integrity of the electoral process and promote public trust in democratic institutions.
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Neeraj Tiwari 
Ashish Bajpai