Electoral bonds
SBI urges Supreme Court to extend deadline for providing electoral bonds info
New Delhi/IBNS: The State Bank of India (SBI) has requested the Supreme Court to extend the deadline till June 30 for providing information about electoral bonds to the Election Commission.
In a historic judgment, the Supreme Court, last month, struck down the electoral bonds scheme and told SBI to give the information to the EC by March 6.
The Supreme Court ended the controversial electoral bonds scheme stating that it violated citizens' right to information.
Chief Justice of India DY Chandrachud had said that the electoral bonds scheme was unconstitutional and arbitrary and may lead to a quid pro quo arrangement between political parties and donors.
The Supreme Court had ordered SBI to stop issuing these bonds and give details of donations made through this mode to the EC.
The poll body was told to publish this information on its website by March 13.
The Constitution bench of five judges held that the stated objective of fighting black money and maintaining the confidentiality of donors cannot defend the scheme.
Electoral bonds, the court said, are not the only way to curb black money.
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