Electoral bonds: SBI urges Supreme Court to extend deadline till June 30 for furnishing data

The State Bank of India (SBI) has urged the Supreme Court to extend the deadline till June 30 to provide information regarding electoral bonds to the Election Commission, India Today reported on Monday.

The top court, after striking down the electoral bonds, had directed the state-run lender to furnish all relevant information to the EC by March 6. However, the bank, citing the complexity of the task at hand, has sought additional time to comply with the court's directives.

On February 15, the apex court struck down the electoral bonds, terming them "unconstitutional". The court directed the SBI to disclose the donor information from the interim order on April 12, 2019 to the judgment date on February 15, 2024.

Within this period, a significant number of electoral bonds — specifically, 22,217 — were utilised for making contributions to various political parties.

All banks were asked to stop further issuance of electoral bonds and the State Bank of India (SBI) was asked to submit details of electoral bonds purchased to date since April 12, 2019, to the EC.

(With inputs from Kanu Sharda and Sanjay Sharma)