EC publishes Electoral Bonds information after SC order 2024

In a landmark decision enhancing transparency within the realm of political finance, the Election Commission of India (ECI) has made public detailed information concerning electoral bonds on its official portal. This action is a direct consequence of a Supreme Court order requiring the disclosure of electoral bonds cashed by various political parties.

EC Releases Electoral Bonds Information Following Supreme Court Order 2024

The release of this information was preceded by the State Bank of India (SBI) providing a detailed account of the electoral bonds redeemed by political groups since April 12, 2019. The Supreme Court had earlier denied SBI's request for an extension to this deadline, compelling the bank to deliver the requested details to the ECI by March 12.

The Supreme Court's engagement in this issue began with a ruling on February 15, in which it effectively annulled the Electoral Bonds Scheme and instructed SBI to disclose the identities of political parties benefiting from electoral bonds within a designated timeframe. The court sought detailed information on the purchase and redemption of electoral bonds, including purchaser names, bond denominations, and dates of redemption by political parties.

Initially, SBI had aimed to extend the deadline to June 30, a request that the Supreme Court declined on March 11, leading to SBI's compliance with the directive the following day.

Responding swiftly to the Supreme Court's order, the ECI proceeded to post the electoral bonds data on its website. The ECI's announcement highlighted the move's transparency, stating, "Following the Supreme Court's directions, the Election Commission of India has today made available the data concerning electoral bonds as provided by SBI, sharing it in an 'as is where is' basis."

This initiative has been widely commended for promoting greater accountability and adherence to democratic values. By making electoral bonds data accessible, the ECI has taken a critical step toward transparency in the electoral financing system, allowing citizens to scrutinize political contributions.

The Supreme Court's directive is seen as a crucial measure in enforcing transparency standards within political funding. Through its decision to overturn the Electoral Bonds Scheme and demand detailed disclosures, the court has underscored the fundamental importance of transparency and accountability in the funding of political activities.

This development is viewed as a significant milestone in India's democratic evolution, reflecting a broad commitment to maintaining the integrity and transparency of political financing. With this release of information, there are growing expectations for further reforms aimed at reinforcing transparency and accountability in the realm of political funding.