In a significant development, the Supreme Court of India has mandated the State Bank of India (SBI) to unveil all electoral bond details by March 21. The apex court emphasized that the SBI must not be selective in its disclosures, insisting on the revelation of all conceivable electoral bond details, including unique bond numbers linking buyers to recipient political parties.
This directive follows the release of electoral bond details predating April 12, 2019. The Election Commission of India, in compliance with Supreme Court directives, made public data on electoral bonds submitted by political parties in sealed covers.
Key Highlights:
- BJP Leads in Electoral Bond Funds: The ruling Bharatiya Janata Party emerges atop the list, having received a substantial sum of ₹6986.5 crore ($842mn) through electoral bonds in 2018.
- Significant Contributions: Mamata Banerjee’s Trinamool Congress secured ₹1,397 crore ($168.5mn), followed closely by the Congress with ₹1,334 crore ($160.9mn), and the Bharat Rashtra Samithi with ₹1,322 crore ($159mn).
- Regional Players: Noteworthy contributions include Odisha Chief Minister Naveen Patnaik’s Biju Janata Dal with ₹944.5 crore ($113.8mn), and the Dravida Munnetra Kazhagam with ₹656.5 crore ($79.1mn).
- Undisclosed Beneficiaries: Bonds worth ₹859 crore ($103.6mn) purchased by Future Gaming lack disclosed beneficiaries due to incomplete donor information from political parties.
- AAP’s Contributions: Arvind Kejriwal’s Aam Aadmi Party, though not providing a consolidated donation figure, received ₹69 crore ($8.32mn) as per SBI records and disclosures to the Election Commission.
- Redemption and Receipts: Various parties, including the Telugu Desam Party, Shiv Sena, and Rashtriya Janata Dal, disclosed redemption and donation figures, contributing significantly to the electoral funding landscape.
- Transparency Concerns: While some parties revealed donor identities, major players like the BJP, Congress, and TMC have faced scrutiny for incomplete disclosures.
- Anonymous Contributions: The revelation of anonymous donations, such as those received by Akhilesh Yadav’s Samajwadi Party, underscores transparency challenges in electoral funding.
The Supreme Court’s insistence on comprehensive disclosure marks a significant step towards greater transparency in electoral financing, aiming to uphold the integrity of democratic processes.
