SC directs SBI to disclose serial numbers, other details of e-bonds

The Supreme Court on Monday asked State Bank of India (SBI) to be transparent and impartial in its handling of electoral bonds data, emphasising the need for full disclosure.

Chief Justice of India D Y Chandrachud, leading a five-judge Bench, addressed the SBI, represented by senior advocate Harish Salve, stating that the bank should not adopt a selective approach but rather provide comprehensive details without reservation.

The court emphasised that all information related to electoral bonds should be shared with the Election Commission of India (ECI), encompassing unique alphanumeric and serial numbers, purchase details, and contributions to political parties under the electoral bonds scheme.

SBI Chairman Dinesh Kumar Khara was directed to submit an affidavit by 5 p.m. on Thursday, assuring that the bank had disclosed all pertinent information without withholding any data. The ECI was instructed to promptly upload the provided information.

Furthermore, the court clarified that its previous judgment, dated February 15, 2024, mandated the disclosure of data concerning electoral bonds purchased and redeemed from April 12, 2019, onwards. An application requesting disclosure of electoral bonds data from March 1, 2018, to April 12, 2019, was dismissed by the court.

Addressing concerns about the purpose of alphanumeric numbers on the bonds, the court sought clarification on their role in ensuring security and facilitating an audit trail. The Solicitor General highlighted the misinterpretation of facts and subsequent social media scrutiny following the publication of electoral bonds data.

Chief Justice Chandrachud reiterated the court’s commitment to transparency and adherence to the rule of law, emphasizing the importance of disclosure in maintaining accountability.