In a significant decision, the Supreme Court directed the State Bank of India to halt the issuance of electoral bonds immediately and provide all relevant details to the Election Commission by March 15.
The Election Commission will be responsible for publicly disclosing all donations within one week of receiving the information.
Additionally, the apex court mandated that SBI must furnish information regarding political parties that have received contributions through electoral bonds from April 12, 2019, onwards to the Election Commission.
As it delivered its verdict on several petitions challenging the validity of the political funding scheme, the court emphasized, “The ECI will make all donations public within one week of the receipt of information.”
