Electoral Bonds Disclosures: State Bank of India racing against time to meet today's deadline, says report

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dismissed the State Bank of India's request for an extended deadline to provide electoral bonds data, SBI is now pressed for time to meet the apex court's orders by the end of working hours today (March 12). SBI's management has directed the overseeing department — the transaction banking marketing department based in Mumbai to "hurry up" and "complete the task at the earliest" to meet the SC's deadline, Moneycontrol reported citing sources.

Also Read | Electoral Bonds: 5 key highlights of SC verdict rejecting SBI's time-extension plea to disclose details Led by Chief Justice DY Chandrachud, the SC's five-judge constitutional bench, on March 11 dismissed SBI's request for additional time to reveal information about electoral bond buyers. It has directed India's largest lender to disclose the required details by the close of business hours on March 12.

The bench also requested an affidavit from SBI's CMD Dinesh Kumar Khara, to confirm compliance with the court's directives, indicating that contempt proceedings would be initiated if the deadline is not met. The court said that matching names of electoral bond buyers with specific political parties was unnecessary adding that information on purchasers, bond denominations, and redemptions by political parties is readily available with the bank and should be disclosed without further delay.

WATCH | Electoral Bonds Row: 'What Were You Doing For 26 Days?'; SC Dismisses SBI's Extension Plea In addition, the SC has also ordered the Election Commission of India (ECI) to publish details of electoral bonds on its website by March 15. The details include donor particulars, bond amounts, and comprehensive information on credited amounts.