Supreme Court rejects SBI plea, sets tight deadline for disclosure of electoral bond donor details 

New Delhi, Mar 11: The Supreme Court put the State Bank of India on a tight deadline Monday, rejecting its plea for more time and ordering immediate disclosure of electoral bond donor details. In a high-stakes ruling, the apex court directed SBI to submit all relevant data to the Election Commission by midnight, closing a chapter on anonymous political financing but intensifying pressure on the state-run lender. 

A 5-judge Constitution bench, led by Chief Justice DY Chandrachud, dismissed SBI's request for an extension until June to collate bond encashment records. When senior advocate Harish Salve argued extra weeks were needed due to disparate record-keeping, the court made clear a “plain disclosure” as stipulated in its February verdict was expected without delay. The judges emphasized that matching donor and recipient identities was not required, merely opening a sealed cover and handing over the compiled information.

The directive leaves SBI little time to comply before the court-mandated March 15 publication deadline for the EC. With just over 48 hours to collect, organize and submit the sensitive funding data, it is a stark reminder to the bank of its constitutional duty to uphold transparency. The ruling also holds ramifications for political parties, who now face having their private donor lists exposed.

As the debate over anonymous donations draws to a conclusive end, it remains to be seen if SBI can rise to the court's urgent disclosure order amid its bureaucratic constraints, or if further compliance issues could invite contempt charges.