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Summary Points:
In a recent development, the State Bank of India (SBI) has come under the spotlight for its handling of electoral bonds data. These bonds, which allow political parties to receive anonymous donations, have been a topic of much debate and scrutiny. Let’s delve into how SBI managed this sensitive information.
The Supreme Court, in its wisdom, struck down the electoral bond scheme on February 15, 2024. As part of this ruling, the SBI was tasked with providing details of the bonds purchased between April 12, 2019, and February 15, 2024, to the Election Commission of India (ECI) by March 6. The court’s decision aimed to enhance transparency and accountability in political funding.
So, how did the SBI tackle this intricate task? Here’s where the intrigue begins. The bank opted for a two-pronged approach:
The Supreme Court, rejecting the SBI’s plea for an extension, emphasised that the information was readily available. Chief Justice of India D Y Chandrachud asserted that there was no reason for further delay. The SBI disclosed the details by the close of business hours on March 12, 2024. Simultaneously, the Election Commission committed to publishing these details on its official website by March 15.
The SBI’s ingenious approach—two PDF files and a separate envelope—ensured compliance with the court’s order. The electoral bonds saga continues, but for now, transparency prevails.
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