Electoral Bonds: SBI cannot be selective in disclosing details, asserts SC

The Supreme Court pulled up the SBI over details the apex court had asked for on electoral Bonds, saying the lender cannot be selective in disclosing the information.

The reprimand comes after the top court had rapped SBI over non-disclosure of the numbers unique to each electoral bond that would help in matching donors with the recipient political party, saying it was "duty bound" to reveal them. The top court had issued a notice to the bank to explain the reasons for not revealing the unique alphanumeric numbers in compliance of its directions even as a political row erupted over the electoral bonds scheme.

The court had struck down the scheme and directed the bank to share all details on the donations made in the last 5 years.

Supreme Court said wants all information related to the Electoral Bonds to be disclosed which is in SBI possession. The court said the matter must be closed with full and complete disclosure by SBI of all details including alpha numeric numbers and others that are in possession of SBI, directing the bank to file an affidavit saying it has fully disclosed all details and nothing more to disclose on EBs.