SBI shares locked at 3% upper circuit to hit 52-week high after SC ruling on electoral bonds; do you own?

livemint.com:

₹763.90 apiece on the BSE after the Supreme Court (SC) ordered the state-owned lender to disclose details of electoral bonds encashed by the political parties, including date and denomination. Earlier today, the top court declared the controversial electoral bonds scheme as 'unconstitutional' and in violation of the right to information and Article 19(1)(a). The ruling stated that allowing corporates to make unlimited contributions is arbitrary and against the fundamental rights of citizens.

The top court said that the SBI would be submitting details of political parties that received contributions through electoral bonds since April 12, 2019, to date to the Election Commission. Further, court also directed the Election Commission to publish all the details on its official website by 31 March 2024. Additionally, electoral bonds that remain unredeemed should be returned.

The decision aimed at bringing greater transparency to the electoral process and reducing the influence of corporate contributions on political decisions. Also Read: Electoral Bond Scheme verdict: SC orders SBI to disclose details of political parties receiving electoral bonds to date Chief Justice of India (CJI) DY Chandrachud said the Electoral Bond Scheme is violative of freedom of speech and expression under Article 19(1)(a) of the Constitution. The scheme, which was notified by the government on January 2, 2018, was pitched as an alternative to cash donations made to political parties as part of efforts to bring transparency in political funding.