SBI's Delay Tactics: A Blow to Transparency and Democracy

The State Bank of India (SBI), India’s largest bank on March 4, 2024, asked for more time to share important details about electoral bonds. They want until June 30, 2024, to give this information. This delay came 17 days after the court said they needed to share it by March 6, which is a big let-down for fairness and honesty in our country.

The whole thing started when the Supreme Court made a big decision on February 15, 2024. They told the SBI to share all the details about electoral bonds with the Election Commission of India (ECI). They wanted to know every bond cashed by political parties when they cashed it, and how much it was for, all within three weeks. But instead of doing that, the SBI asked for more time, saying they had some problems with their old-fashioned way of keeping records. 

Let's talk about this in simpler terms

The SBI had more than two weeks to get this info ready, but they waited until the last minute to say they couldn't do it in time. That's not fair to the court or to the people who want to know where the money in politics is coming from. It's just not right.

And here's the kicker: the SBI said some of the info isn't even stored digitally. In a time where everything is done on computers, it's strange that they're still using old methods. Why would they do that, especially when it comes to something as important as money in politics?

This delay doesn't just mean they're bad at their job. It goes deeper. Electoral bonds were supposed to make political funding more transparent, but they've been controversial since they started in 2017. People say they let political parties get secret donations, which isn't good for democracy. The Supreme Court's decision was supposed to fix that, but now the SBI is messing it up again.

Is it the government that is refraining itself from saving from the scam or something else is there that SBI doesn’t want us to know? 

What's the big deal? 

Well, it's about holding people accountable. We have a right to know who's giving money to political parties. It's a big part of how our country runs. By stalling on this, the SBI is saying they don't care about being open and honest. That's not how things should work.

And with elections coming up, we need to know where the money is coming from more than ever. But the SBI's actions make it seem like they care more about helping politicians than looking out for regular people. That's not fair, and it's not right.

What can be done? 

The Supreme Court needs to stick to its decision and not give the SBI more time. Anything else would be unfair to everyone who wants transparency and honesty. And the government needs to step in and make sure the rules around political funding are up-to-date and clear. We can't let big banks like the SBI get away with holding back important information. Our democracy depends on it.