WebDesk
13 March
Sandeep Dhand Ludhiana
In a significant development, the State Bank of India (SBI) has filed an affidavit in the Supreme Court confirming its adherence to the court’s directives regarding electoral bonds. The affidavit states that SBI has furnished comprehensive details of electoral bonds to the Election Commission, including purchase dates, purchaser names, and bond prices.
Furthermore, the affidavit reveals that SBI has provided information on the redemption dates of electoral bonds and the recipient political parties receiving donations. A total of 22,217 electoral bonds were purchased between April 1, 2019, and February 15, 2024, with 22,030 bonds redeemed by political parties.
The affidavit highlights the meticulous compliance efforts undertaken by SBI, indicating that between April 1, 2019, and April 11, 2019, 3,346 electoral bonds were purchased, out of which 1,609 were encashed. Subsequently, from April 12, 2019, to February 15, 2024, a total of 18,871 electoral bonds were purchased.
This disclosure comes as part of SBI’s commitment to transparency and accountability in electoral funding processes, aligning with the overarching objective of promoting integrity and fairness in democratic practices. The submission of detailed information to the Election Commission underscores the bank’s dedication to upholding regulatory compliance and facilitating greater transparency in political financing mechanisms.