Supreme Court Orders SBI to Disclose Electoral Bonds Data, Declares Scheme Unconstitutional

The State Bank of India has complied with the Supreme Court's directive, submitting details on electoral bonds issued and redeemed, as the Election Commission prepares to make the data public.

SBI submitted data on electoral bonds to the Election Commission of India, revealing 22,217 bonds were issued between April 2019 and February 2024, with 22,030 redeemed.
The Supreme Court declared the electoral bonds scheme unconstitutional on February 15, citing violations of the right to information regarding potential quid pro quo between donors and political parties.
The Election Commission will make the details of the electoral bonds public by 5 pm on Friday, following the Supreme Court's directive.
Chief Election Commissioner Rajiv Kumar assured that all relevant information on electoral bonds will be disclosed in time, emphasizing readiness for the 2024 Lok Sabha elections.
The Supreme Court rejected SBI's request for an extension to submit electoral bonds data, ordering details to be disclosed by March 12 and published by the Election Commission by March 13.