The Election Commission has recently disclosed fresh information regarding the funds received by political parties through the now-defunct electoral bonds scheme. This data, submitted to the Supreme Court in sealed covers and subsequently uploaded to the Election Commission's website after the physical copies were returned by the court's registry, provides insight into various aspects of the electoral bonds transactions.
Outlined in this newly released information are the dates of issuance of the bonds, the denominations of the funds, the number of bonds issued, and the respective State Bank of India (SBI) branches responsible for their issuance. Additionally, details regarding the dates of receipt and crediting of these funds into the bank accounts of political parties have been included.
However, notably absent from this disclosure are the unique electoral bond numbers, which are instrumental in linking donors to recipients. This omission raises questions regarding the transparency and accountability of the electoral funding process.
The Election Commission's decision to reveal this data follows its recent move to seek modification of a Supreme Court order issued on March 11. In response to the State Bank of India's plea for an extension until June 30 to furnish electoral bond data, the court dismissed the request. During subsequent hearings on March 15, the court expressed dissatisfaction with the SBI's failure to disclose electoral bond numbers, highlighting a lapse in compliance with prior judicial directives.
It is worth noting that the Election Commission had previously published electoral bond data shared by the SBI, revealing details of bond purchases by companies and individuals within denominations ranging from Rs 1,000 to Rs 1 crore since April 12, 2019. Additionally, the data shed light on bonds encashed by political parties. However, specific information regarding the amounts received by each party from individual companies or individuals was not provided.
The timing of this release coincides with the announcement of the dates for the forthcoming Lok Sabha elections, slated to be held in seven phases from April 19 to June 1, with results expected on June 4. As the electoral process unfolds, the transparency and integrity of campaign financing remain pivotal concerns, emphasizing the importance of comprehensive disclosure mechanisms in ensuring accountability and fairness in the electoral arena.
