Retired Civil Servants Accuse SBI of Shielding Government: Electoral Bond Disclosure Delay Sparks Controversy

A group of retired civil servants has raised concerns over the State Bank of India’s request to the Supreme Court to extend the deadline for disclosing information on electoral bonds. In a letter addressed to the Election Commission, the group expressed dismay at the delay and accused the bank of shielding the Union government from criticism.

The Supreme Court had previously directed the State Bank of India to provide details of political parties that received electoral bonds from April 12, 2019, to the Election Commission by March 6. This directive came as the court struck down the electoral bonds scheme, citing concerns about potential quid pro quo arrangements between donors and political parties.

Despite the court’s order, the State Bank of India sought an extension of the deadline until June 30. The group of retired bureaucrats, known as the Constitutional Conduct Group, criticized this move, highlighting the bank’s extensive digital infrastructure and questioning its claim that records were stored manually.

Former general secretary of the All India Banking Officers Confederation, Thomas Franco, revealed that the State Bank of India had previously requested over Rs 60 lakh from the Union government to develop IT systems for the electoral bonds scheme. Additionally, Subhash Chandra Garg, the former Finance Secretary, had stated in interviews that disclosing information about the bonds should take no more than ten minutes.

The group expressed concern that the delay in disclosing information about electoral bonds could be interpreted as an attempt to shield the government from scrutiny regarding potential quid pro quo arrangements or actions taken against corporations.

Citing reports from Newslaundry and The News Minute, the letter highlighted that several companies had donated substantial sums to the Bharatiya Janata Party and faced actions from central agencies during the same period.

With the Lok Sabha’s term scheduled to end in June 2024, the group urged the Election Commission not to announce the schedule for the 2024 general elections until the State Bank of India furnished the requested information.