SC directs SBI to reveal all EB data by March 21

NEW DELHI: The Supreme Court on Friday ordered the State Bank of India to disclose the unique serial number associated with each electoral bond and all other information the bank possess while supplying the Election Commission of India with data about bond beneficiaries and donors for public release a move that potentially enables a correlation of he two.

However, the five judge bench denied a request for the release of information about EBs sold before April 12, 2019, the cut off date fixed by the court in its February 15 ruling that invalidated the EB scheme and ordered SBI to provide bond details to ECI for pubic viewing.

Simultaneously, the bench led by Chief Justice of India Dhananjaya Y Chandrachud, refuse to grant an out of turn hearing to industry bodies Ficci and Assocham that requested a postponement of an order requiring the disclosure of bond numbers on the grounds that EBs were donated with an assurance of anonymity and thus, they should be heard before any further order is made.

Under the 2018 EB scheme, which was quashed by the Supreme Court, each electoral bond is imprinted with a unique number that can assist in tracking the issuance and redemption of bonds, and in tracing he bond back to purchaser. It may become feasible to match redemptions with purchases and create a one to one relationship if this number is supplied.

There is no manner of doubt that SBI was required to disclose all information in its possession, which will include alphanumeric numbers and serial numbers. In order to obviate any controversy in he future and to give full effect to our judgement dated February 15, 2024, the chairperson of bank shall file an affidavit by 5 pm on Thursday that it has disclosed all details in its custody and that no details.

Electoral bonds data: What we know so far

NEW DELHI: The Election Commission published two tranches of data related to electoral bonds on March 14 and 17. The Supreme Court has now asked BI to disclose all data it possesses, including the unique serial number associated with each EB by March 21. Until then a few things are clear, and just as importantly, some things aren’t. What is known as the total amount of bonds purchased, redeemed, and lapsed for each  fiscal year: which party redeemed precisely what amount of bonds: and redemptions made by parties by fiscal year.

Around 74% buyers of the value of all bonds purchased is known, but the matching of donors to parties of bonds worth only 801 crore has been made public so far.