Tag: #SBI

Finance

Funding of Political Parties and Electoral Bonds Disclosures

The recent Supreme Court judgment in the Electoral Bonds Case declared the Electoral Bond Scheme (EBS) unconstitutional, along with supporting legislation, and ordered the State Bank of India (SBI) to submit details of electoral bond contributions and purchases from April 12, 2019, onwards to the Election Commission of India (ECI). The Court's intervention is a significant move to level the electoral field and ensure transparency in political funding. This verdict has far-reaching implications, as it aims to curb the potential for funneling funds from shell companies and money laundering through corporate funding, ultimately ushering in a big electoral reform. The judgment addresses the issue of non-disclosure of information and its infringement on the right to information of the voter, emphasizing the importance of transparency in electoral funding.
The recent Supreme Court judgment in the Electoral Bonds Case declared the Electoral Bond Scheme (EBS) unconstitutional, along with supporting legislation, and ordered the State Bank of India (SBI) to submit details of electoral bond contributions and purchases from April 12, 2019, onwards to the Election Commission of India (ECI). The Court's intervention is a significant move to level the electoral field and ensure transparency in political funding. This verdict has far-reaching implications, as it aims to curb the potential for funneling funds from shell companies and money laundering through corporate funding, ultimately ushering in a big electoral reform. The judgment addresses the issue of non-disclosure of information and its infringement on the right to information of the voter, emphasizing the importance of transparency in electoral funding.
2 min read

The recent Supreme Court judgment in the Electoral Bonds Case declared the Electoral Bond Scheme (EBS) unconstitutional, along with supporting legislation, and ordered the State Bank of India (SBI) to submit details of electoral bond contributions and purchases from April 12, 2019, onwards to the Election Commission of India (ECI). The Court’s intervention is a significant move to level the electoral field and ensure transparency in political funding. This verdict has far-reaching implications, as it aims to curb the potential for funneling funds from shell companies and money laundering through corporate funding, ultimately ushering in a big electoral reform. The judgment addresses the issue of non-disclosure of information and its infringement on the right to information of the voter, emphasizing the importance of transparency in electoral funding.