Supreme Court to Deliberate on Disclosure of Electoral Bond Serial Numbers

In a significant development, the Supreme Court is set to convene on Monday to deliberate on whether the State Bank of India (SBI) should disclose the “unique serial numbers” of electoral bonds (EBs). The ongoing case stems from concerns over transparency and accountability in the electoral process.

Under the now-defunct 2018 Electoral Bond scheme, each bond was marked with a unique serial number, which proponents argue could aid in monitoring issuance, redemption, and tracing back to the purchaser. However, the SBI has faced criticism for not disclosing these serial numbers when providing information to the Election Commission of India (ECI) regarding bond beneficiaries and donors.

Expressing disapproval, the Supreme Court criticized the SBI for this omission, emphasizing the need for transparency in electoral funding. The Court’s directive comes amidst a growing political controversy surrounding the electoral bonds scheme, with calls for greater accountability and scrutiny.

Previous directives from the apex court have mandated the release of electoral bond transaction details, including those submitted to the ECI in sealed envelopes. This move towards transparency reflects a broader effort to enhance public trust in the electoral process and ensure fair and transparent elections.

As the hearing unfolds, stakeholders await the Court’s decision on whether the SBI should disclose the unique serial numbers associated with electoral bonds. The outcome of this case could have far-reaching implications for electoral transparency and accountability in India.

Stay tuned for updates on this evolving story as the Supreme Court convenes to address this crucial issue in the electoral bonds case.