The State Bank of India (SBI) has declined to disclose details of electoral bonds despite a Right to Information (RTI) query, citing exemptions under the RTI Act. RTI activist Commodore (retired) Lokesh Batra sought complete data of electoral bonds in digital form, as provided to the Election Commission (EC) after a Supreme Court order.
While the EC has made the information available on its website, SBI refused to divulge details citing exemptions under sections 8(1)(e) and 8(1)(j) of the RTI Act, pertaining to records held in a fiduciary capacity and withholding personal information, respectively.
In response to Batra’s query, SBI stated that the information contains details of purchasers and political parties, thus held in a fiduciary capacity exempted from disclosure under the RTI Act.
Batra criticized SBI’s decision, calling it “bizarre” considering the information is already in the public domain. Additionally, he sought details of legal fees paid to senior advocate Harish Salve, who represented SBI in the Supreme Court against disclosing electoral bonds data. SBI declined to provide this information, citing taxpayer involvement.
The Election Commission published electoral bonds data on its website, including details of donors, amounts, and recipient political parties. However, the Supreme Court reprimanded SBI for not furnishing complete information, particularly unique numbers on each electoral bond to facilitate matching donors with recipient parties.
SBI disclosed that donors purchased 22,217 electoral bonds between April 1, 2019, and February 15, 2022, of which 22,030 were redeemed by political parties. Despite pressure from the Supreme Court, SBI’s refusal to disclose complete information raises concerns about transparency and accountability in electoral funding processes.
As the issue unfolds, activists and stakeholders continue to advocate for greater transparency in electoral funding, emphasizing the importance of public access to information for ensuring democratic integrity.
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