In a major development post SC slamming the electoral bonds scheme, SBI filed a compliance affidavit submitting relevant data to the EC.
As directed by the top court, the bank informed that it had handed over two password-protected PDFs containing details to the poll body via pen drive.
From April 2019 to February 2024, 22,217 bonds worth Rs. 22,030 crore were redeemed by parties. The remaining 187 bonds worth Rs. 187 crore went to the PM relief fund as per rules.
Recalling its February verdict declaring the scheme unconstitutional, the SC ordered an immediate stop to bond issuance and disclosure of donation records.
However, SBI sought a time extension to June, which was challenged in court. The court affirmed the deadline on Monday and asked EC to upload the data by Friday.
During arguments, SBI said bond purchase records were stored separately due to SOPs. But SC clarified no matching of donors and recipients was needed.
With the crucial data now with the EC, transparency in political funding will soon be possible, as critics had argued the scheme lacked.
