All eyes on SBI and EC as wait begins for names of electoral bond donors

“We haven't yet had the opportunity to read the order in detail but it's abundantly clear to us that SBI will have to share the names of those who purchased electoral bonds. So there's no doubt about it,” said an EC official who requested anonymity.

Written by Ritika Chopra

New Delhi | Updated: February 16, 2024 01:40 PM IST

3 min read

As per the EB scheme, which was operationalised through State Bank of India, details of the donors were kept anonymous.

Will the names of electoral bond donors be known within a month from today? Officials in the Election Commission are confident that, following the specific order of the Supreme Court, that will be very much possible by March 13.

“We haven’t yet had the opportunity to read the order in detail but it’s abundantly clear to us that SBI will have to share the names of those who purchased electoral bonds. So there’s no doubt about it,” said an EC official who requested anonymity.

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What remains uncertain at this moment is whether the data shared by SBI will be presented in a format that helps one immediately match the bond buyer to the political party that received the same bond. “Irrespective of whether the format is reader-friendly or not, finding out the identity of the donor and recipient will not be impossible. It may just mean a lot of work for people interested in finding out the same,” the above-quoted official added.

In its order on Thursday, the apex court directed the State Bank of India to share details of all electoral bonds purchased from its designated branches, including the date of purchase, the name of the buyer, and the value of the electoral bond. Furthermore, the bank has also been instructed to provide details of each electoral bond encashed by political parties, including the dates of encashment and the amount.

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Significantly, SBI has in its custody the names, Aadhaar, and PAN card details of everyone who has bought an electoral bond, irrespective of the denomination.

EC officials added that it was premature to comment on whether the Commission would disclose the details shared by SBI as received, or if the Commission would choose to present them in a manner that is easily understandable.

The Commission’s stand in the top court on electoral bonds has always been that it hurts transparency. In 2019, in its affidavit submitted to the apex court, the poll watchdog had informed SC that changes made in several laws relating to political funding would have “serious repercussions” on transparency.

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“The court’s verdict on Thursday only bolsters EC’s longstanding position on electoral bonds. We have stood for transparency and this order endorses just that,” the official said.

Ritika Chopra

Ritika Chopra, an award-winning journalist with over 17 years of experience, serves as the Chief of the National Bureau (Govt) and National Education Editor at The Indian Express in New Delhi. In her current role, she oversees the newspaper's coverage of government policies and education. Ritika closely tracks the Union Government, focusing on the politically sensitive Election Commission of India and the Education Ministry, and has authored investigative stories that have prompted government responses. Ritika joined The Indian Express in 2015. Previously, she was part of the political bureau at The Economic Times, India’s largest financial daily. Her journalism career began in Kolkata, her birthplace, with the Hindustan Times in 2006 as an intern, before moving to Delhi in 2007. Since then, she has been reporting from the capital on politics, education, social sectors, and the Election Commission of India. ... Read More

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