SBI urges Supreme Court to extend deadline for providing electoral bonds info
New Delhi/IBNS: The State Bank of India (SBI) has requested the Supreme Court to extend the deadline till June 30 for providing information about electoral bonds to the Election Commission.
In a historic judgment, the Supreme Court, last month, struck down the electoral bonds scheme and told SBI to give the information to the EC by March 6.
The Supreme Court ended the controversial electoral bonds scheme stating that it violated citizens' right to information.
Chief Justice of India DY Chandrachud had said that the electoral bonds scheme was unconstitutional and arbitrary and may lead to a quid pro quo arrangement between political parties and donors.
The Supreme Court had ordered SBI to stop issuing these bonds and give details of donations made through this mode to the EC.
The poll body was told to publish this information on its website by March 13.
The Constitution bench of five judges held that the stated objective of fighting black money and maintaining the confidentiality of donors cannot defend the scheme.
Electoral bonds, the court said, are not the only way to curb black money.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
Related Articles
CRR cut, AI ethics push, and SORR benchmark: Experts hail RBI’s pragmatic policy moves
Mumbai: The Reserve Bank of India (RBI) has kept the repo rate unchanged at 6.5% while the cash reserve ratio (CRR) has been slashed by 50 basis points to 4 percent, media reports said.
JP Morgan gives 'overweight' rating to Adani Group bonds
Mumbai: US investment bank JP Morgan has assigned an 'overweight' rating to four bonds issued by the Adani Group, citing the group's capacity to scale and grow through internal cash flows, which reduces the likelihood of credit stress.
LG Electronics files DRPH with SEBI; IPO size expected to be over RS 15,000 cr
Mumbai: South Korean electronics giant LG Electronics has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on Friday for the proposed public listing of its Indian business, according to a notification on the Bombay Stock Exchange (BSE).
De-dollarisation not on India's agenda; derisking domestic trade is: RBI Governor Shaktikanta Das
Mumbai: India has not initiated any steps towards de-dollarisation and is solely focused on mitigating risks to domestic trade from geopolitical uncertainties, Reserve Bank of India (RBI) Governor Shaktikanta Das clarified on Friday, media reports said.
Latest News
Farah Khan breaks silence on 'unfollowing' Deepika Padukone and '8-hr shift' remark
'It feels good when country's leader bats on front foot': Suryakumar Yadav on PM Modi's 'Operation Sindoor on games field' post
US asked India not to start war against Pakistan after 26/11: Chidambaram's admission embarrasses Congress; BJP reacts
Nicole Kidman, Keith Urban separate after 19 years
