Supreme Court – The Hero Of The Day!

The Supreme Court of India rejected a plea by the state-run State Bank of India (SBI) seeking time till June 30 to submit details of individuals and companies which bought its electoral bonds to fund various political parties.

The apex court made it clear that the information should be shared with the Election Commission of India on March 12, and the panel should make the same public by posting on its website by March 15 evening.

It stood firm on its landmark judgment of scrapping the electoral bond scheme. By terming the scheme unconstitutional, the apex court iterated that it would not allow the ‘anonymous’ political funding to the various political parties in the country.

With almost all the political parties thriving on these ‘anonymous’ funding these days, the apex court judgment could serve a blow to their interests. Ahead of the elections, the SC directive would put the both the bank and also the political parties in a sticky situation. It can be viewed as an attempt to avoid the scheme turning into a scam by bringing in some accountability by the bank as well as the political outfits in revealing their revenue sources. It can also avoid political leaning of the parties, as corporate giants cannot enter into quid pro quo transactions to benefit from governments.

The electoral bonds scheme was launched by the BJP-led NDA allowing ‘anonymous’ political funding and made SBI the authorized financial institution under the scheme.

The SC asked the lender to submit by March 6, the details of the electoral bonds purchased from April 12, 2109, till date to the Election Commission, and asked it to publish the information on its official website by March 13.

Congress leader Karti Chidambaram said the people of India have the right to know who purchased the electoral bonds.

Congress senior leder KC Venugopal also lauded the SC dismissing the SBI plea seeking extension to submit details till June 30, 2024. He said that the SC protected the Indian democracy from devious machinations of the NDA regime.

Congress President Mallikarjun Kharge also took a jibe at the SBI and BJP.

Rahul Gandhi also took to X and said: :Narendra Modi’s ‘donation business’ is about to be exposed! The government that came to power by promising to bring back black money from Swiss banks in 100 days, stood on its head in the Supreme Court for hiding the data of its own bank. Electoral bonds is going to prove to biggest scam in India’s history, which will reveal the real face of Narendra Modi in front of the country by exposing the nexus of corrupt industrialists and the government.”

“The chronology is clear –Donate-take business Donate-Take Protection! Shower of blessings on those who donate and tax burden on the general public, this is the Modi government of BJP,” the Congress scion said.