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    HomeTelanganaOpposition Criticizes SBI for Delay in Releasing Electoral Bonds Data

    Opposition Criticizes SBI for Delay in Releasing Electoral Bonds Data

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    The State Bank of India is facing criticism for not submitting the list of electoral bond purchasers to the Supreme Court by the deadline of March 6. Many believe this delay was intentional to conceal information until after the Lok Sabha elections. Some are concerned about the impact on the bank’s reputation.

    A retired SBI official explained that banks in India are highly automated and close their balance reports daily. The process of purchasing electoral bonds involves following KYC norms, transferring money, issuing bearer bonds, and reconciling transactions on the same day. Therefore, gathering and consolidating data should not be difficult for a bank.

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    Congress leader Mallu Ravi accused SBI of defying the Supreme Court’s judgment by withholding details of electoral bond purchasers. He suggested that political pressure may be behind the delay in disclosing this information. The bank’s request for an additional three to four months to submit the list indicates a desire to wait until after the elections.

    Critics, including ADR Chairman Prof T Sastry, questioned SBI’s justification for needing so much time to retrieve and match information related to electoral bonds. They emphasized India’s expertise in information technology and suggested that any concerns should have been raised earlier in the process.

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    Rajesh M
    Rajesh Mhttps://www.telanganatribune.com
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