India: Election Commission publishes electoral bonds data on its website following Supreme Court order
State Bank of India (SBI)
Following directives from the Indian Supreme Court, the Election Commission of India (ECI) has uploaded the electoral bonds data on its website. In adherence to the court's orders dated February 15 and March 11, 2024, the State Bank of India (SBI) provided the data to the ECI on March 12, 2024.
The ECI confirmed that the data was uploaded "as is where is basis" on its website. This comes as the Chairman of SBI filed a compliance affidavit on Wednesday (Mar 13), informing the Supreme Court about furnishing the electoral bonds details to the election commission.
“In compliance of Hon’ble Supreme Court's directions, contained in its order dated Feb 15 & March 11, 2024 (in the matter of WPC NO.880 of 2017), the State Bank of India (SBI) had provided the data pertaining to the electoral bonds to the Election Commission of India (ECI) on March 12, 2024," the commission said in a statement on Thursday (Mar 14)
"The Election Commission of India has today uploaded the data on electoral bonds on its website as received from SBI on “as is where is basis". The data as received from SBI can be accessed at this url: https://www.eci.gov.in/candidate-politicalparty It may be recalled that in the said matter, ECI has consistently and categorically weighed in favour of disclosure and transparency, a position reflected in the proceedings of the Hon’ble Supreme Court and noted in the order also," it added.
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The affidavit submitted by the SBI chairman stated that the bank has provided details of “the date of purchase, denomination and name of buyer were recorded, and [in relation to the political parties] the date of encashment and the denominations of the bonds encashed were recorded”.
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The data covers bonds purchased and redeemed between April 12, 2019, and February 15, 2024. The electoral bonds data was transferred to the ECI on a pen drive with two password-protected PDF documents, along with a separate envelope containing the passwords and a letter addressed to Chief Election Commissioner Rajiv Kumar.
What are electoral bonds?
Electoral bonds were introduced in 2017 by the Indian government as a means for individuals and organisations to donate money to political parties anonymously.These bonds are similar to promissory notes, allowing donors to purchase them from authorised banks.
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The donor can then donate these bonds to the political party of their choice, which can encash them through designated bank accounts.The failure to cash the amount within 15 days resulted in the donation being deposited into the Prime Minister's Relief Fund.
(With inputs from agencies)