Supreme Court Rejects SBI's Plea for Extension on Electoral Bond Disclosure Deadline
The Supreme Court's decision to reject SBI's plea underscores the importance of transparency and accountability
Supreme Court on Electoral Bond Latest News: The Supreme Court of India on Monday dismissed the State Bank of India's (SBI) petition to extend the deadline for disclosing details related to Electoral Bonds until June 30. Instead, the apex court has instructed the SBI to provide all necessary information by tomorrow, March 12th, 2024.
Electoral Bonds, introduced in 2018, have been a contentious issue due to concerns regarding transparency in political funding. These bonds allow individuals and corporations to make anonymous donations to political parties, raising questions about accountability and potential misuse.
The Supreme Court's decision to reject SBI's plea underscores the importance of transparency and accountability in political financing. By setting a strict deadline for the disclosure of Electoral Bond details, the court aims to ensure transparency in the electoral process and uphold democratic principles.
Additionally, the Supreme Court has directed the Election Commission of India (ECI) to publish all details related to Electoral Bonds on its website by 5 PM on March 15, 2024. This directive further emphasizes the need for transparency and public scrutiny in political funding.
The court's intervention in this matter maintain its commitment to protect democratic values and ensuring the integrity of electoral processes. As the deadline for disclosure approaches, stakeholders will be closely monitoring compliance with the court's directives by both the SBI and the Election Commission.
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