SBI refuses to give electoral bonds’ details under RTI Act

New Delhi: The State Bank of India (SBI) has declined to reveal information requested under the RTI Act regarding electoral bonds submitted to the Election Commission (EC). The bank claims the details constitute personal information and are held in a fiduciary capacity, despite their availability in the public domain on the EC’s website.

The Supreme Court had recently ruled the electoral bonds scheme as “unconstitutional” and ordered the SBI to provide the EC with all bond details from April 12, 2019. The EC was to make this information public by March 13.

Despite the SBI’s attempt to extend the deadline, the court directed the disclosure of the electoral bond details to the EC by March 12. Following the court’s directive, RTI activist Lokesh Batra requested the complete electoral bond data from the SBI, which the bank refused, citing two exemption clauses given under the Right to Information (RTI) Act — section 8(1)(e) that is related to records held in a fiduciary capacity and section 8(1)(j) that allows withholding personal information.

The SBI’s refusal to disclose information already public on the EC’s website has been criticised as “bizarre” by Batra. Additionally, the bank has also declined to provide details on the fees paid to advocate Harish Salve for defending the bank in this matter, citing that the records are held in a fiduciary capacity and the information is personal in nature.

The EC released the bond data on March 14, including donor and political party details. However, the Supreme Court criticised the SBI for omitting unique bond numbers essential for tracking donations. Chief Justice D Y Chandrachud emphasised the court’s instruction for full disclosure, including purchaser names, amounts, and purchase dates.

The SBI reported that 22,217 electoral bonds were bought between April 1, 2019, and February 15, with 22,030 redeemed by political parties. The court’s reprimand highlights the SBI’s obligation to provide complete transparency in the electoral bond scheme.