Brief by Shorts91 Newsdesk / 01:24pm on 15 Feb 2024,Thursday India
The Supreme Court has directed the State Bank of India (SBI) to stop issuing Electoral Bonds, scrapping the scheme allowing anonymous political funding. In its verdict, the court mandated the return of unused Electoral Bonds within the 15-day validity period by political parties to purchasers, with the refunded amount credited to the buyer's account. The judgment highlighted concerns about a potential quid pro quo in political contributions and emphasized the violation of the right to information. The court ruled that the anonymous nature of the Electoral Bonds Scheme infringes on Article 19(1)(a) of the Constitution.
