SBI submits all details of electoral bonds in its 'possession & custody' with ECI; Know what's in it

The State Bank of India (SBI) Thursday (March 21) submitted all the details of the electoral bonds to the Election Commission of India (ECI) after being rapped by the Supreme Court earlier this week.

The data includes “all details of the electoral bonds which are in its (SBI’s) possession and custody”. It includes details of the purchaser and of political parties who have redeemed electoral bonds.

The complete data of electoral bonds was submitted to the poll body by SBI Chairman Dinesh Kumar Khara.

“On 21.03.2024, the State Bank of India has provided/ disclosed all details of the electoral bonds which are in its possession and custody of the Election Commission of India,” the SBI Chairman said.

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Details in electoral bonds data 

The information submitted by the SBI to the ECI includes details of purchaser and of redemption by political parties.

1 - Details of Purchaser - Details provided under this include date of purchase of bond, date of expiry, name of the purchaser, bond number, bond denomination, issue branch code, issue teller, status.

2 - Details of Redemption by Political Parties - This include date of encashment, name of the political party, last four digits of account number, bond number, denomination, pay branch code, pay teller.

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The prefix and the bond number submitted by the SBI is “infact the alphanumeric number.”

What’s not there?

The SBI said, the data submitted by them, however, does not include complete bank account numbers and KYC details of political parties “as it may compromise the security of the account (cyber security).”

“KYC details of purchasers are also not being made public for security reasons, apart from the fact that such information is not fed/collated in the system. However, they are not necessary for identifying the political charges,” the bank said.

“SBI has now disclosed all details and that no details [other than complete account numbers and KYC details] have been withheld,” bank manager Khara said.

On Monday (March 18), the apex court directed the SBI Chairman to disclose to ECI by 5 pm of March 21 all the information in its possession relating to issuance and redemption of electoral bonds (EBS), from April 12, 2019 to February 15, 2024, their unique alphanumeric numbers and serial numbers included.

The court had also asked the poll body to “forthwith upload the data” on receipt from the SBI.