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    SBI submits electoral bond data to EC post Supreme Court critique | Action Punjab

    ACTION PUNJAB NEWS Desk: In New Delhi, the State Bank of India (SBI) complied with a stern order from the Supreme Court by submitting electoral bond data to the Election Commission of India on Tuesday evening. The bank’s Chairman and Managing Director provided an affidavit confirming adherence to the court’s directive. The Election Commission will compile and release this data by 5 pm on Friday, as mandated by the court.

    On Monday, the court dismissed SBI’s request to extend the March 6 deadline for data disclosure. Chief Justice DY Chandrachud, leading the bench, reprimanded the bank for “willful disobedience” and warned of contempt proceedings if the deadline was not met.

    Although refraining from immediate contempt action, the court cautioned SBI that failure to comply with directions within specified timelines could lead to contempt charges. SBI cited challenges in collecting, verifying, and releasing data stored in two confidential “silos”. The bank requested an extension until June 30, citing confidentiality concerns and the complexity of the process.

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    The Supreme Court countered by highlighting that donor details were accessible at SBI’s Mumbai branch and urged prompt action. The court emphasized the simplicity of the task—opening covers, collating details, and providing information.

    In a landmark ruling last month, the Supreme Court declared the electoral bond scheme “unconstitutional”, asserting it infringed upon citizens’ right to information. SBI was instructed to disclose data by March 6, with the Election Commission tasked to make it public by March 13.

    This is a developing story. It will be updated.

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    (Inputs from agencies)

    Author: actionpunjab

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