The Election Commission of India has taken a step towards greater transparency in political funding by uploading electoral bonds data provided by State Bank of India onto its official website. The move comes in compliance with Supreme Court directives aimed at enhancing disclosure around anonymous political donations made through electoral bonds.
Among the major corporate entities that purchased electoral bonds according to the uploaded figures are manufacturing giants Grasim Industries and Megha Engineering as well as pharmaceutical company Sun Pharma. Other big name buyers include Apollo Tyres, steel tycoon Lakshmi Mittal's Edelweiss, cinema operator PVR, and beverage companies Keventer and Sula Wine.
In a statement, the EC said it received the comprehensive details from SBI on March 12th pertaining to electoral bond purchases as per the apex court's February and March orders in the relevant pending case. The furnished data includes purchase dates, purchaser identities, and denomination values. The commission asserted its consistent pro-transparency position reflected in court deliberations.
As per SBI's compliance affidavit, all linked particulars regarding the electoral bonds scheme were handed over to the poll body. This comprises information on encashment dates of the bonds by political parties as well as recipient party names, in addition to purchaser identities.
The disclosure aims to enhance accountability around opaque political donations that can be anonymously routed to parties via electoral bonds. Their regulation has been a matter of intense public debate around influencing political financing and potential quid pro quo favors. By uploading the furnished stats in raw form, the EC hopes to shed light on this gray area assuring traceability of anonymous electoral bond funds.
