SC asserts SBI's obligation to disclose electoral bond details without selectivity

The Supreme Court has rebuked the State Bank of India (SBI) for its selective approach in disclosing information regarding electoral bonds, emphasising that transparency cannot be compromised in such matters.

This reprimand follows the Supreme Court's previous criticism of SBI for withholding crucial details, particularly the unique alphanumeric numbers assigned to each electoral bond. These numbers are vital for tracking and matching donors with recipient political parties, and the court emphasised that SBI has a "duty bound" obligation to divulge this information.

In response to the court's notice regarding the non-disclosure of these unique numbers, especially amidst a growing political controversy surrounding the electoral bonds scheme, the SBI faced further scrutiny. The Supreme Court had earlier invalidated the scheme and instructed SBI to provide comprehensive details of all donations made over the past five years.

The Supreme Court's stance remains firm on the matter, demanding full disclosure of all information related to electoral bonds that is within SBI's possession. The court has urged for the closure of this issue with complete transparency, directing SBI to submit an affidavit confirming the full disclosure of all details, including the alphanumeric numbers and any other pertinent information held by the bank.