SBI’s Denial of Electoral Bonds Details Sparks Controversy

The State Bank of India (SBI) has stirred controversy by refusing to disclose details of electoral bonds under the Right to Information (RTI) Act, citing exemptions related to fiduciary capacity and personal information. Despite the Supreme Court’s directive to furnish complete bond details to the Election Commission (EC) for publication, the SBI declined RTI activist Commodore Lokesh Batra’s request for digital data, claiming confidentiality.

The SBI’s stance drew criticism, especially considering the EC had already published the information. The bank’s refusal to disclose its legal expenses, including fees paid to advocate Harish Salve, further fueled debate over transparency in electoral funding. The apex court reprimanded the SBI for incomplete disclosure, emphasizing its duty to reveal all bond details, including purchaser names and amounts.