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The Supreme Court on Thursday ordered the State Bank of India (SBI) to disclose details of electoral bonds encashed by political parties, including date and denomination. The court said that the SBI would be submitting details of political parties that received contributions through electoral bonds since April 12, 2019, to date to the Election Commission.
Further, the Supreme Court directed the Election Commission to publish all the details on its website by 31 March 2024.
Electoral Bonds Scheme LIVE updates
In one of the biggest verdicts in India’s judicial system, the Supreme Court of India on Thursday struck down the validity of a controversial political funding tool just months before elections.
SC strikes down electoral bonds scheme, terms it ‘unconstitutional’. Top points
The SC scrapped the Electoral Bond Scheme in a unanimous decision and directed the State Bank of India to stop issuing the electoral bonds.
Chief Justice of India DY Chandrachud said the Electoral Bond Scheme is violative of freedom of speech and expression under Article 19(1)(a) of the Constitution.
What is the Electoral Bond Scheme? Who has most funding, and concerns. Explained
The scheme, which was notified by the government on January 2, 2018, was pitched as an alternative to cash donations made to political parties as part of efforts to bring transparency in political funding.
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Published: 15 Feb 2024, 11:47 AM IST
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