SBI Denies Disclosure of Electoral Bond Guidelines

SBI Denies Disclosure of Electoral Bond Guidelines/Reuters

VoM News Desk | April 2, 2024 | 04:41 PM IST | Breaking News | Follow on Google News

SBI Denies Disclosure of Electoral Bond Guidelines

SBI Denies Disclosure of Electoral Bond Guidelines

Refusal to Share SOPs:
The State Bank of India (SBI) declines to disclose the Standard Operating Procedures (SOPs) governing its electoral bonds scheme, citing exemption under the RTI law.

Activist’s Challenge:
Transparency activist Anjali Bhardwaj vows to challenge SBI’s denial, criticizing the vague invocation of exemption clauses without demonstrating potential harm to a third party’s competitive position.

Supreme Court’s Scrutiny:
The Supreme Court’s February verdict annulled the electoral bonds scheme, deeming it unconstitutional and a potential catalyst for quid pro quo arrangements between political parties and donors, highlighting the need for transparency in electoral funding.

VoM News Desk

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