State Bank of India Seeks Extension Till June 30 for Electoral Bonds Disclosure: Supreme Court Proceedings

New Delhi, 04-03-2024: The State Bank of India (SBI) has submitted an application to the Supreme Court, requesting an extension until June 30, 2024, to furnish details regarding electoral bonds to the Election Commission.

This comes after the apex court’s directive for the bank to provide the information by March 6. Following a significant ruling on February 15, the Supreme Court declared the Centre’s electoral bonds scheme for anonymous political funding as “unconstitutional.” The court mandated the disclosure of donors, amounts, and recipients of the bonds by March 13. Additionally, the court ordered the immediate closure of the controversial scheme and instructed SBI, the authorized financial institution under the scheme, to provide details of electoral bonds purchased since April 12, 2019, to the Election Commission by March 6.

The ECI will subsequently publish this information on its official website by March 13.

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