SBI has provided the Election Commission with electoral bond details as per the Supreme Court’s orders

SBI has given the Election Commission details on electoral bonds as per the Supreme Court’s instructions

SBI has provided the Election Commission with information regarding electoral bonds in compliance with the Supreme Court’s directive

This move comes after the Supreme Court’s ruling that transparency in political funding is crucial for a healthy democracy. The electoral bonds, which were introduced in 2018, allow individuals and corporations to donate money to political parties anonymously. However, concerns have been raised about the lack of transparency and accountability in this system.

By submitting the information to the Election Commission, SBI is taking a step towards increasing transparency in political funding. The details of the parties that purchased the electoral bonds and the recipients will now be available for public scrutiny. This will help in ensuring that political parties are held accountable for their sources of funding and prevent any potential misuse of the electoral bond system.

The Election Commission’s decision to make this information public on its official website further emphasizes the importance of transparency in political funding. It will allow citizens to have access to crucial information about the financial transactions of political parties, thereby promoting accountability and integrity in the electoral process.

Overall, this development marks a significant step towards promoting transparency and accountability in political funding, which are essential for upholding the principles of democracy.