Dubious response: On the State Bank of India and the Electoral Bond scheme
The HinduIt has barely been three weeks since a five-judge Bench of the Supreme Court of India unanimously struck down the Electoral Bond scheme as unconstitutional for violating the right to information under Article 19 of the Constitution. The judgment also stipulated that the State Bank of India, the sole bank authorised to issue electoral bonds, had to immediately stop issuing them. First, it said that it required time to reconcile two silos of information — one related to the purchase of the bonds and the other to the parties that were issued the bonds — and that it was difficult to pinpoint which political party was issued bonds by the relevant donor. But reports based on RTI queries have found that the bank was indeed storing data on the donors who were purchasing electoral bonds and their dates of purchase. Reports also indicate that the bank issued a unique alphanumeric code to each bond, which should make it relatively easy to gather details on the bonds’ issue date and the denomination quickly through database queries.