What steps have you taken to disclose details of electoral bonds: Supreme Court to SBI

A five-judge Constitution bench of the Supreme Court on Monday asked the State Bank of India to apprise it about the steps taken so far to ensure disclosure of details of electoral bonds encashed by political parties before the scheme was scrapped last month.

Commencing the crucial hearing, the bench headed by Chief Justice D Y Chandrachud said it had asked the SBI to do a "plain disclosure" as per the court's judgment.

In a landmark verdict delivered on February 15, a five-judge Constitution bench scrapped the Centre's electoral bonds scheme that allowed anonymous political funding, calling it "unconstitutional" and ordered disclosure by the Election Commission of donors, the amount donated by them and the recipients by March 13.

"In the last 26 days, what steps have you taken? Your application is silent on that," the bench, also comprising justices Sanjiv Khanna, B R Gavai, J B Pardiwala, and Manoj Misra, said.

The SBI has to just open the sealed cover, collate the details and give the information to the Election Commission, the bench said. The hearing in the case is underway.

The State Bank of India has sought an extension till June 30 to disclose the details of each electoral bond encashed by political parties before the scheme was scrapped.

A separate plea, seeking initiation of contempt action against the SBI is also being heard.