BEFI Urges SBI To Comply With SC Deadline On Electoral Bond Disclosure

The Bank Employees Federation of India (BEFI) has voiced strong opposition to the State Bank of India's (SBI) request for an extension to disclose details of contributors to the electoral bond scheme.

In a statement issued from Kolkata, BEFI criticised the delay and demanded adherence to the deadline set by the Supreme Court, stressing the importance of transparency in political funding.

BEFI accused public sector banks, including SBI, of being utilised for narrow political interests, expressing concern over the delay caused by the bank's appeal for an extension until 30th June. The union highlighted the significance of the Supreme Court's verdict on electoral bonds and urged prompt disclosure of all relevant information to the Election Commission.

With Lok Sabha polls expected to take place in April-May, BEFI's demand for timely disclosure gains significance. They stressed the need for accountability and transparency in electoral financing and opposed the exploitation of banks for political purposes.

In its defense, SBI cited challenges in data management and the absence of a centralised database ensuring donors' anonymity. However, BEFI's statement highlighted the urgency of adhering to the Supreme Court's directives, considering the impending elections and the principles of democracy at stake.

The matter remains pending before the Supreme Court and BEFI expressed confidence in the court's ability to make an appropriate decision. The union reiterated its stance against utilising banks for political motives, urging SBI to fulfill its obligation without further delay.