Skip to content
Search

Latest Stories

India bank ordered to publish anonymous election bond data

The Supreme Court wants the State Bank of India to publish details of political donations made through electoral bonds by March 12 or face action

India bank ordered to publish anonymous election bond data

India's top court on Monday ordered the state-run bank to publish details of previously anonymous political donations made in the form of controversial electoral bonds - with the disclosures to be made before upcoming national polls.

Last month, the Supreme Court outlawed the scheme, under which individuals and companies could anonymously buy electoral bonds, saying it "infringes upon the right of information of the voter".


Electoral bonds have been a key method of political funding, allowing donors to give anonymously through certificates purchased from the State Bank of India (SBI).

Critics condemned the campaign financing method as an opaque way to funnel "black money" to parties, but supporters say it provides better regulation than cash donations, which are still legal.

The SBI had requested an extension on publishing the bond details until June 30 - by which time the general election would have been completed.

Nearly a billion people are eligible to cast ballots in the elections, likely to be held in April and May, with Prime Minister Narendra Modi widely expected to win a third term in power.

But Chief Justice Dhananjaya Yeshwant Chandrachud gave the SBI until March 12 to comply, warning if the bank failed to do so it risked being charged with "wilful disobedience".

The court also directed the Election Commission to publish the details shared by the bank on its official website on March 15.

The SBI had argued it needed more time to prepare the "complex" payment details, but the court said the information was "already available" within the bank.

Apart from the chief justice, the bench also included Justices Sanjiv Khanna, B R Gavai, J B Pardiwala, and Manoj Misra.

The initial court order on February 15 argued that information about political party funding was "essential for the effective exercise of the choice of voting".

It ruled that the SBI must submit details of each bond -- including who purchased it -- since April 2019 to the Electoral Commission, which must publish those details on its website by March 13.

In addition to concerns the scheme allowed huge anonymous donations to parties, critics also feared it gave the government the power to access donor details through the state-owned SBI.

Modi's party has previously defended electoral bonds, arguing the process is more transparent than direct cash donations because it is channelled through the banking system.

Cash donations are still allowed but carry no tax exemption.

Individuals and companies bought 165.18 billion rupees ($2 billion) of such bonds in total up to November 2023, according to the Association for Democratic Reforms (ADR), a non-government civil society group. The group was a petitioner challenging the system.

There was no immediate reaction from the government or BJP to Monday's court order. BJP had on Feb. 15 said it was committed to reforming electoral funding and would abide by the court ruling scrapping the bonds.

"The Supreme Court's decision is a victory for transparency, accountability, and level playing field in democracy," Mallikarjun Kharge, president of the main opposition Congress party, posted on X.

"This judgment is a big step forward in ensuring transparency in political funding and particularly electoral funding," said Sitaram Yechury, leader of the Communist Party of India (Marxist). (Agencies)

More For You

british-muslims-iStock

The study noted that this identification was not due to any doctrinal obligation but was influenced by the perception that many Muslims do not feel fully accepted as British. (Representational image: iStock)

iStock

Majority of British Muslims identify by faith first, study finds

A STUDY by the Institute for the Impact of Faith in Life (IIFL) has found that most British Muslims identify primarily with their religion rather than their nationality.

The research, based on a survey of 815 British Muslim adults by Whitestone Insight, revealed that 71 per cent of respondents identified as Muslim first, while 27 per cent identified as British, English, or Scottish first.

Keep ReadingShow less
Car Tax Changes: EV Owners Now Required to Pay for the First Time

Owners of electric vehicles registered on or after 1 April 2025 will pay £10 for the first year, followed by the standard VED rate of £195 from the second year. (Representational image: iStock)

iStock

Car tax changes take effect: EV owners to pay for first time

FROM today, 1 April 2025, electric cars, vans, and motorcycles in the UK will be subject to Vehicle Excise Duty (VED) for the first time.

The change, introduced in the 2022 Autumn Statement by former Conservative Chancellor Jeremy Hunt, aims to make motoring taxation fairer.

Keep ReadingShow less
scotland-minimum-wages-iStock

Full-time workers on the National Living Wage will receive an annual pay increase of £1,400 in real terms. (Representational image: iStock)

iStock

Wage increase takes effect for thousands of workers in Scotland

HUNDREDS of thousands of workers in Scotland will see a pay increase as new National Living Wage and National Minimum Wage rates take effect from Tuesday.

The changes will benefit approximately 220,000 people, according to STV News.

Keep ReadingShow less
uk-energy-bill-iStock

Water bills, energy prices, and council tax are rising, while the minimum wage has also increased (Representational image: iStock)

iStock

April bill increases put financial strain on single parents

A RANGE of essential household bills are increasing from April, with Citizens Advice warning that single parents will be among the hardest hit.

Water bills, energy prices, and council tax are rising, while the minimum wage has also increased, BBC reported.

Keep ReadingShow less
Netflix drama Adolescence to be screened in UK schools
Stephen Graham and Owen Cooper in 'Adolescence'
Netflix

Netflix drama Adolescence to be screened in UK schools

THE NETFLIX drama Adolescence will be shown in UK secondary schools as part of efforts to address harmful online influences on young boys, officials announced on Monday.

The show has sparked debate over the impact of toxic and misogynistic content on the internet. Prime minister Keir Starmer met the show's creators, charities, and young people at Downing Street, calling the initiative an important step in starting discussions about the content teenagers are exposed to online.

Keep ReadingShow less