Daily Briefing: Supreme Court strikes down electoral bonds scheme; all eyes on EC, SBI; and more

1) By striking down the electoral bonds scheme, the Supreme Court has set a precedent: the court has struck down a set of legislative amendments on the grounds that the state could have used a method “less restrictive” of fundamental rights. Essentially, the court did not buy the government’s argument that the electoral bonds scheme is the only way to curb black money. The burden is thus on the state to be ‘least restrictive’. 

2) Following the SC’s order, the State Bank of India (SBI) will have to share the names of those who purchased electoral bonds. Election Commission officials say they are confident that will be very much possible by March 13. But one thing remains uncertain. Will the SBI be able to present the data in a format that helps one immediately match the bond buyer to the political party that received the same bond? Here’s what EC officials had to say. 

3) Express Interview | Kapil Sibal lays down the notable aspects of the  judgment that struck down the scheme, why he thinks it is a scam, and if the Opposition should now make this its main election issue.

4) In our Opinion section today, S Y Quraishi writes on the Supreme Court’s decisive verdict: “This is a very significant judgment which will have a long-term effect on our electoral democracy…. I have always described the Supreme Court as the guardian angel of our democracy. This faith was, however, wavering lately. Now I add that it is the last refuge in a troubled democracy.”

5) Along with the EBS, the Supreme Court also struck down several amendments that the government made in key laws to facilitate corporate donations to political parties. The amendments were made through The Finance Act, 2016, and The Finance Act, 2017. We explain how the apex court has restored the status quo that existed before the Finance Act, 2017 was passed.

Until tomorrow,

Ayesha Jain and Rahel Philipose