SC:" Disclose Electoral Bonds" Details By Tomorrow

The Supreme Court firmly declined the State Bank of India's (SBI) plea for more time to disclose the specifics of the electoral bonds program, emphasizing the need for expediency. SBI was instructed to furnish the necessary details to the Election Commission of India (ECI) by the following day, with a clear mandate for the ECI to promptly publish the information on its website by 5 pm on Friday. The court issued a stern warning, indicating that failure to adhere to this directive would result in contempt proceedings against SBI. This decision came in the wake of the court's landmark ruling on February 15, which nullified the electoral bonds program and instructed the ECI to unveil donation details by March 13. Despite SBI's request for an extension, the Association for Democratic Reforms (ADR), a petitioner opposing the program initiated by the Narendra Modi government in 2017, voiced its dissent. Senior Advocate Harish Salve, representing SBI, cited logistical challenges, explaining that the bank followed a prescribed protocol for storing program-related data outside its core banking system. Nevertheless, the court underscored the imperative of transparency in the electoral process, urging SBI to promptly disclose the information.