#supreme court sbi electoral bonds

[rightnewshindi]

राजनीतिक दलों ने कैश किए 22030 बॉन्ड, 187 बॉन्ड पीएम रिलीफ फंड में डाले; जानें क्या है 15 दिनों की डेडलाइन का नियम

राजनीतिक दलों ने कैश किए 22030 बॉन्ड, 187 बॉन्ड पीएम रिलीफ फंड में डाले; जानें क्या है 15 दिनों की डेडलाइन का नियम

Electoral Bonds: इलेक्टोरल बॉन्ड्स का डेटा चुनाव आयोग को सौंपने के बाद स्टेट बैंक ऑफ इंडिया ने सुप्रीम कोर्ट को इसकी जानकारी दे दी है. एक हलफनामे में बैंक ने बताया कि कोर्ट के आदेश का परिपालन हो गया है. स्टेट बैंक ने इलेक्टोरल बॉन्ड्स की खरीद-बिक्री का डेटा सुप्रीम कोर्ट की फटकार के बाद 24 घंटे के भीतर चुनाव आयोग को सौंप दी है. डेटा में 187 बॉन्ड्स की जानकारी नहीं दी गई है, जिसका पैसा पीएम केयर…

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Is SBI Lying to Supreme Court over Electoral Bond Details? | Akash Banerjee

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Electoral Bond Data Visualised: Transparency & Reports

In 2018, India introduced electoral bonds to enhance transparency in political funding. However, between March 2018 and March 2021, over ₹7,000 crores were funneled through these bonds, with the identities of donors and recipients largely hidden from public scrutiny. This opacity has sparked widespread debate: are electoral bonds truly a step towards transparency, or do they cloak the financial roots of political power? As the largest democracy grapples with this issue, it’s crucial to examine the data behind electoral bond data, understand their impact on democratic integrity, and explore potential reforms. Join us as we delve into the complex world of electoral bond data transparency, uncovering the facts that shape our electoral landscape.

Origin or Electoral Bond The idea of electoral bonds was introduced in India’s 2017 Union Budget by then-Finance Minister Arun Jaitley to reform the opaque nature of political funding. Launched in March 2018, these bonds aimed to curb black money in elections and enhance transparency. Individuals and corporate entities can purchase these bonds from authorized banks and donate them to political parties anonymously. Between March 2018 and March 2021, over ₹7,000 crore worth of electoral bonds were sold, significantly changing India’s political funding landscape. The bonds, available in denominations from ₹1,000 to ₹1 crore, can be bought during specific government-notified periods.

The government contends that electoral bonds bring clean money into the political system, with donors using legal banking channels to ensure accountability and tax compliance. Political parties can only encash these bonds through their official bank accounts, creating an ostensible paper trail. However, critics argue that the anonymity feature undermines transparency, raising questions about the bonds’ effectiveness. The ongoing debate highlights concerns about balancing donor privacy with the need for transparency in political funding, questioning the true impact of electoral bonds on India’s democratic process.

Data transparency and SBI reports Since the electoral bond scheme’s inception in March 2018, the State Bank of India (SBI) has been the exclusive institution authorized to issue and redeem these bonds. Handling over ₹7,000 crore in transactions between March 2018 and March 2021, SBI’s electoral bond data is pivotal for assessing the transparency and impact of electoral bond funding. Electoral bonds come in denominations of ₹1,000, ₹10,000, ₹1 lakh, ₹10 lakh, and ₹1 crore, available during quarterly ten-day purchase windows. Donors buy these bonds and anonymously donate them to political parties.

A five-judge Constitution Bench of the Supreme Court unanimously struck down the Centre’s electoral bond scheme which facilitates anonymous political donations for being unconstitutional. It underscored that the scheme violates the right to information under Article 19(1)(a) of the Constitution.

Who were the top 20 Electoral bond donors? According to SBI data, lottery king Sebastian Martin’s firm Future Gaming and Hotel Services was the top donor to the scheme, purchasing bonds worth Rs 1,365 crore. Second-ranked Megha Engineering & Infrastructures donated Rs 966 crore, and Reliance-linked Qwik Supply Chain purchased bonds worth Rs 410 crore.

Since the electoral bond scheme’s launch in March 2018, a significant portion of donations has come from a small group of high-value contributors. State Bank of India (SBI) data shows that between March 2018 and March 2021, over ₹7,000 crore in bonds were transacted, with a majority of funds stemming from high-denomination bonds, particularly those valued at ₹1 crore. This indicates that large corporate entities and wealthy individuals are the primary users of electoral bonds, raising concerns about the potential influence of big money in politics.

While the anonymity of electoral bonds was designed to protect donor privacy, it has led to questions about the disproportionate influence of wealthy donors. Despite the government’s claims that these bonds promote clean and transparent political funding, the dominance of large donors suggests a need for closer scrutiny.

FUTURE GAMING AND HOTEL SERVICES PR

₹12,08,00,00,000

MEGHA ENGINEERING AND INFRASTRUCTURES LIMITED

₹8,21,00,00,000

QWIK SUPPLY CHAIN PRIVATE LIMITED

₹4,10,00,00,000

HALDIA ENERGY LIMITED

₹3,77,00,00,000

VEDANTA LIMITED

₹3,75,65,00,000

ESSEL MINING AND INDS LTD

₹2,24,50,00,000

WESTERN UP POWER TRANSMISSION COMPANY LIMITED

₹2,20,00,00,000

KEVENTER FOODPARK INFRA LIMITED

₹1,95,00,00,000

MADANLAL LTD

₹1,85,50,00,000

BHARTI AIRTEL LIMITED

₹1,83,00,00,000

YASHODA SUPER SPECIALITY HOSPITAL

₹1,62,00,00,000

UTKAL ALUMINA INTERNATIONAL LIMITED

₹1,35,30,00,000

DLF COMMERCIAL DEVELOPERS LIMITED

₹1,30,00,00,000

MKJ ENTERPRISES LIMITED

₹1,28,35,00,000

JINDAL STEEL AND POWER LIMITED

₹1,23,00,00,000

B G SHIRKE CONSTRUCTION TECHNOLOGY PVT LTD

₹1,17,00,00,000

DHARIWAL INFRASTRUCTURE LIMITED

₹1,15,00,00,000

BIRLA CARBON INDIA PRIVATE LIMITED

₹1,05,00,00,000

CHENNAI GREEN WOODS PRIVATE LIMITED

₹1,05,00,00,000

RUNGTA SONS P LTD

₹1,00,00,00,000

electoral bond data Electoral Bond Data Which political parties received the most? The Bharatiya Janata Party (BJP) was the biggest beneficiary of the electoral bonds scheme, with donations worth over Rs 6,000 crore in the last four years. Hyderabad-based infrastructure company Megha Engineering (MEIL) was the biggest donor to the BJP, with bonds purchased worth Rs 519 crore. Qwik Supply, an unlisted private company, donated Rs 375 crore, followed by Vedanta with Rs 226.7 crore and Bharti Airtel worth Rs 183 crore.

Since the electoral bond scheme’s inception in March 2018, there’s been a marked disparity in fund distribution among political parties. Data from the State Bank of India (SBI) reveals that over ₹7,000 crore worth of bonds were sold between March 2018 and March 2021. A significant portion of these funds has gone to a few major political parties, primarily benefiting the ruling party and several key opposition parties. This concentration of funds raises concerns about the scheme’s impact on political competition and fairness.

The dominance of a few parties in receiving electoral bond donations suggests that smaller and regional parties may need help to compete financially. This disparity potentially skews political competition, favoring well-established parties and undermining democratic equity. While the scheme aims to promote clean political funding, the uneven distribution underscores the need for greater transparency. Understanding which parties benefit most is crucial for assessing the scheme’s impact and ensuring a fair political landscape. The ongoing debate highlights the necessity for reforms to address these disparities and enhance transparency in political funding in India.

BHARTIYA JANTA PARTY

₹ 60,60,51,11,000

ALL INDIA TRINAMOOL CONGRESS

₹ 16,09,53,14,000

ALL INDIA CONGRESS COMMITTEE

₹ 14,21,86,55,000

BHARAT RASHTRA SAMITHI

₹ 12,14,70,99,000

BIJU JANATA DAL

₹ 7,75,50,00,000

DMK PARTY IN PARLIAMENT

₹ 6,39,00,00,000

YSR CONGRESS PARTY

₹ 3,37,00,00,000

TELUGU DESAM PARTY

₹ 2,18,88,00,000

SHIVSENA (POLITICAL PARTY)

₹ 1,58,38,14,000

RASTRIYA JANTA DAL

₹ 72,50,00,000

AAM AADMI PARTY

₹ 65,45,00,000

JANATA DAL (SECULAR)

₹ 43,50,00,000

SIKKIM KRANTIKARI MORCHA

₹ 36,50,00,000

NATIONALIST CONGRESS PARTY PARLIAMENT OF India

₹ 30,50,00,000

JANASENA PARTY

₹ 21,00,00,000

ADYAKSHA SAMAJVADI PARTY

₹ 14,05,00,000

BIHAR PRADESH JANTA DAL(UNITED)

₹ 14,00,00,000

JHARKHAND MUKTI MORCHA

₹ 13,50,00,000

SHIROMANI AKALI DAL

₹ 7,26,00,000

ALL INDIA ANNA DRAVIDA MUNNETRA KAZHAGAM

₹ 6,05,00,000

SIKKIM DEMOCRATIC FRONT

₹ 5,50,00,000

RASHTRIYA JANTA DAL

₹ 1,00,00,000

SHIVSENA

₹ 1,00,00,000

MAHARASHTRAWADI GOMNTAK PARTY

₹ 55,00,000

JAMMU AND KASHMIR NATIONAL CONFERENCE

₹ 50,00,000

NATIONALIST CONGRESS PARTY MAHARASHTRA PRADESH

₹ 50,00,000

GOA FORWARD PARTY

₹ 35,00,000

The analysis of electoral bond data offers crucial insights into the financial landscape of political funding in India. The significant contributions received by major political parties underscore the importance of corporate influence in politics and highlight the need for greater transparency and accountability. To maintain public trust, it’s essential to strike a balance between protecting donor privacy and ensuring transparency. Advocating for stronger regulatory frameworks, such as mandatory disclosure of donor identities and limits on contributions, and leveraging technology like blockchain for transparent records, can enhance accountability.

Understanding who receives the most funds through electoral bonds allows us to work towards a more transparent and equitable democratic process. For further insights and detailed analysis of electoral bond data, stay tuned to our blog and engage with our latest posts.

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Supreme Court Raps SBI For Not Sharing "Complete Data" On Electoral Bonds

The Supreme Court today came down hard on the State Bank of India for not sharing the complete data on electoral bonds, a scheme that allowed individuals and businesses to donate anonymously to political parties. The court had struck down the scheme and directed the bank to share all details on the donations made in the last 5 years.

[theshillongtimes]

SC directs SBI to make full disclosure of electoral bonds details by March 21

New Delhi, March 18: In a third tongue-lashing to the State Bank of India, the Supreme Court on Monday told it to stop being “selective” and make “complete disclosure” of all details related to the electoral bonds scheme by March 21. The apex court said the details to be disclosed include the unique bond numbers that would reveal the link between the buyers and the recipient political parties. A five-judge Constitution bench headed by Chief Justice of India D Y Chandrachud said there is “no manner of doubt that the SBI is required to make complete disclosure of all the details” that are in its possession.

[petnews2day]

Electoral bonds case Live: Supreme Court asks SBI to disclose all details by March 21

New Post has been published on https://petn.ws/xve6m

Electoral bonds case Live: Supreme Court asks SBI to disclose all details by March 21

Electoral bonds case Live Updates: Plea in SC seeks disclosure of electoral bonds sold from Mar 1, 2018, to Apr 11, 2019 Electoral bonds case Live Updates: A plea has been filed in the Supreme Court seeking disclosure of the details of electoral bonds sold from March 1, 2018, to April 11, 2019, saying voters […]

See full article at https://petn.ws/xve6m #OtherNews

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PM Narendra Modi’s Southern Focus: A Strategic Political Move

In the dynamic landscape of Indian politics, Prime Minister Narendra Modi’s strategic focus on the southern states continues to grab attention. Today, he embarked on a series of rallies in Karnataka and Tamil Nadu, marking a deliberate effort to strengthen the National Democratic Alliance’s (NDA) presence in these crucial regions.

After a spirited kickoff in Andhra Pradesh’s Palnadu, where he joined forces with the Telugu Desam Party (TDP) and Jana Sena Party (JSP), PM Modi shifted his attention to Karnataka. His presence in Shimoga, particularly significant due to its association with BJP stalwart BS Yediyurappa, underscores the party’s determination to fortify its stronghold in the state. Despite internal dissent, symbolized by former deputy chief minister K S Eshwarappa’s independent candidacy, the BJP remains steadfast in its pursuit of victory in Karnataka.

The upcoming polls in Karnataka are poised to be decisive, with the BJP vying to replicate its impressive performance in 2019. However, the formidable presence of the Congress, buoyed by its recent triumph in the state assembly elections, poses a formidable challenge.

In Tamil Nadu, PM Modi’s roadshow in Coimbatore marks a strategic move by the BJP to expand its footprint in a traditionally unconquered territory. Despite facing setbacks in previous elections, the party has intensified its campaigning efforts, epitomized by state unit chief Annamalai’s extensive state-wide campaign. The alliance landscape in Tamil Nadu remains fluid following AIADMK’s decision to sever ties, presenting both challenges and opportunities for the BJP.

Amidst these political maneuvers, the Supreme Court is set to address the State Bank of India’s (SBI) response regarding the disclosure of unique alphanumeric codes crucial for tracing electoral bond donors. The revelation of donor details by regional parties adds a layer of complexity to an already contentious issue. The BJP’s assertion of non-obligation to disclose donor information underscores the need for transparency and accountability in political funding.

In parallel, the Enforcement Directorate’s summons to Delhi Chief Minister Arvind Kejriwal in a money laundering case linked to alleged irregularities in the Delhi Jal Board (DJB) further amplifies the political drama. The AAP leader’s defiance of previous summons and allegations of ulterior motives behind the DJB probe add intrigue to an already charged atmosphere.

As the political landscape unfolds, all eyes remain fixed on these developments, shaping the trajectory of Indian politics in the days to come. Will PM Modi’s southern foray yield electoral dividends? How will the judicial and investigative scrutiny impact key political figures? The answers lie in the unfolding chapters of India’s vibrant democracy.

[werindialive]

EC to release the electoral bond details in time, reads the statement from the Chief Election Commissioner

Chief Election Commissioner Rajiv Kumar on Wednesday said that very soon Election Commission will disclose all details on electoral bonds. The statement from the head of the poll panel chief came after the State Bank of India deposited all the details about electoral bonds to the EC on Tuesday.

“In compliance with the Hon’ble Supreme Court's directions to the SBI, contained in its order dated Feb 15 & March 11, 2024 (in the matter of WPC NO.880 of 2017), data on electoral bonds has been supplied by State Bank of India to Election Commission of India, today, March 12, 2024,” a statement read from the chief of EC.

As per the directive of the Supreme Court, the poll panel must publish all the details of the electoral bonds on its website by the 15th of March. The State Bank of India in a compliance affidavit filed all the details with the apex court. This affidavit contains details of all the electoral bonds purchased and redeemed between April 12, 2019, and February 15 this year.

Earlier, a bench of 5 judges rejected the plea from SBI seeking a 5-day extension in the deadline for submission of electoral bond details. “The SBI has to just open the sealed cover, collate the details, and give the information to the EC,” the bench headed by Chief Justice of India DY Chandrachud had said.

“In the last 26 days, what steps have you taken? Your application is silent on that," the bench had asked SBI.

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[rightnewshindi]

Electoral Bond; एसबीआई बोला, हमें बदनाम किया जा रहा है; सुप्रीम कोर्ट का निर्देश, हर जरूरी जानकारी देनी होगी

Electoral Bond; एसबीआई बोला, हमें बदनाम किया जा रहा है; सुप्रीम कोर्ट का निर्देश, हर जरूरी जानकारी देनी होगी

Supreme Court on Electoral Bonds: सुप्रीम कोर्ट में सोमवार (18 मार्च) को इलेक्टोरल बॉन्ड मामले पर सुनवाई हुई. अदालत की संविधान पीठ ने इलेक्टोरल बॉन्ड के यूनीक नंबर का खुलासा करने को लेकर सुनवाई करते हुए स्टेट बैंक ऑफ इंडिया (एसबीआई) को फटकार लगाई. चीफ जस्टिस डीवाई चंद्रचूड़ ने कहा कि एसबीआई को हर जरूरी जानकारी देनी होगी. इस पर बैंक ने कहा कि उसे बदनाम किया जा रहा है. दरअसल, सुप्रीम कोर्ट में…

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Electoral bonds: Supreme Court rejects SBI plea, orders it to furnish details tomorrow

Electoral bonds: Supreme Court rejects SBI plea, orders it to furnish details tomorrow

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Dubious response: On the State Bank of India and the Electoral Bond scheme

It has barely been three weeks since a five-judge Bench of the Supreme Court of India unanimously struck down the Electoral Bond scheme as unconstitutional for violating the right to information under Article 19(1)(a) of the Constitution. The scheme, which was notified in 2018, facilitated anonymous political donations. The judgment also stipulated that the State Bank of India (SBI), the sole…