The Supreme Court has instructed the bank to reveal the details of electoral bonds. The State Bank of India has petitioned the Supreme Court for an extension of the deadline until June 30 to disclose the details of electoral bonds cashed by political parties.
In a filing submitted to the Supreme Court, the State Bank of India, the largest lender in the country, stated that the process of retrieving information from individual silos and matching it between them would be a time-consuming task.
In its petition, SBI argued that it had implemented rigorous measures to safeguard the anonymity of political party donors. However, decoding the electoral bonds and correlating donors with their contributions is anticipated to be a complex undertaking, the bank informed the court.
A five-judge Constitution bench, led by Chief Justice D Y Chandrachud, mandated that the SBI must reveal specifics of every electoral bond cashed by political parties. This data should encompass the encashment date, bond denomination, and should be provided to the poll panel by March 6.
