In another serious setback to the Modi government and the State Bank of India (SBI) management, the Supreme Court today directed the SBI to disclose all possible details it possesses concerning electoral bonds. This includes the crucial alphanumeric codes assigned to each bond, which would enable tracing the origin of the funds and the political party that redeemed them.

The Court emphasized that SBI should not be selective in its disclosure and reiterated a previous instruction to reveal “all details” pertaining to the bonds. This directive comes after concerns were raised that SBI might be withholding some information.

The move follows the Supreme Court’s landmark judgment last month, which declared the electoral bond scheme unconstitutional due to its lack of transparency in political funding. The Court had previously ordered SBI to submit details of all bonds purchased between April 12, 2019, and February 15, 2024, to the Election Commission of India (ECI).

This latest directive for complete disclosure, including the alphanumeric codes, is expected to shed light on the previously opaque system of electoral bond funding in India.

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