SBI seeks more time to disclose details of electoral bonds

New Delhi: State Bank of India on Monday moved the Supreme Court seeking an extension of time till June 30 to disclose details of each electoral bond encashed by political parties. In its verdict last month, the top court directed the SBI to furnish the details to the poll panel by March 6.

In an application filed before the top court, State Bank of India (SBI) contended that retrieval of information from "each silo" and the procedure of matching the information of one silo to that of the other would be a time-consuming exercise. The plea submitted that due to stringent measures undertaken to ensure that the identity of the donors was kept anonymous, "decoding' the electoral bonds and matching donors to the donations made would be a complex process.

"It submitted that the data related to the issuance of the bond and the data related to the redemption of the bond was kept recorded in two different silos.