The State Bank of India (SBI) on Thursday complied with the Supreme Court’s directives, asking it to disclose complete details of electoral bonds to the Election Commission of India (ECI). The SBI submitted comprehensive information, including the ‘unique alpha-numeric’ details of the bonds, which will unveil the connection between the buyers and recipient political parties.
In response to the apex court’s notice, SBI informed that it has revealed the denomination and specific numbers of electoral bonds. The court had asked the bank to cease being “selective” and ensure “complete disclosure” of all aspects related to the electoral bonds scheme by March 21.
KYC details not shared
Filing a compliance affidavit in the Supreme Court, SBI affirmed that it has furnished all pertinent details of electoral bonds to the Election Commission. However, the bank clarified that it refrained from updating the Know Your Customer (KYC) details of political parties and purchasers to safeguard their security.
The information provided to the ECI encompasses crucial details such as the date of encashment, name of political party, bond number, denominations, last four digits of account number, and payment branch code. Additionally, details of electoral bonds purchasers, including URN number, journal date, date of purchase, date of expiry, name of purchaser, bond number, denominations, issue branch code, and status, have also been included in the affidavit.
(With inputs from agencies)