The Bank Employees Federation of India (BEFI) demanded on Wednesday that the State Bank of India (SBI) adhere to the Supreme Court’s deadline to disclose the names of contributors to the electoral bond scheme to the Election Commission. The SBI had requested an extension until June 30 to disclose details of each electoral bond encashed by political parties, but the court had directed the bank to provide the information to the poll panel by March 6.
In a statement issued in Kolkata, the BEFI alleged that public sector banks and their personnel are being exploited for the narrow political interests of the ruling forces, which they oppose. The BEFI, representing employees of commercial banks, the Reserve Bank of India, NABARD, regional rural banks, and cooperative banks, hailed the Supreme Court’s verdict on electoral bonds as a landmark judgment.
The BEFI expressed concern that the SBI’s appeal to the Supreme Court, filed on March 4, seeking an extension until June 30 to comply with the court’s directive, was made just two days before the March 6 deadline, conveniently after the general elections would have concluded. The union criticized the SBI’s explanation that some data is stored in physical form, contrasting it with the digital era where most information is readily accessible.
Moreover, the BEFI accused public sector banks of being used for the interests of ruling forces, citing instances such as observing Partition Horrors Remembrance Day and Viksit Bharat Sankalp Yatra. The union emphasized the need for more recruitment in the banking industry and called for an end to the misuse of public funds.
The BEFI unequivocally opposed the use of banks for political purposes and demanded that the SBI disclose and submit all electoral bond details to the Election Commission before the March 6 deadline, as directed by the Supreme Court, as delayed justice is tantamount to denial of justice. The union expressed confidence that the Supreme Court would make an appropriate decision in this matter.
In its application filed before the Supreme Court, the SBI explained that data related to the issuance and redemption of electoral bonds was stored separately, with no centralized database maintained to ensure donor anonymity. The Supreme Court had invalidated the electoral bonds scheme on February 15, citing violations of constitutional rights to freedom of speech and expression, as well as the right to information.
