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Re:

Did SBI Submit Electoral Bond Details, Including Unique Codes, to the Election Commission?

SBI’s electoral-bond disclosure took two stages: initial purchase and redemption records, followed by the alphanumeric bond numbers after the Supreme Court raised the omission.
From TheFinanceBase Team3 min to read
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Yes—but the disclosure happened in two stages. SBI first sent purchase and redemption records to the Election Commission of India (ECI) on 12 March 2024. After the Supreme Court raised the missing alphanumeric bond numbers, SBI said it supplied those numbers and all other bond details in its possession and custody on 21 March. ECI confirmed receipt and said it uploaded the data as received.

What did SBI submit, and when?

The Supreme Court’s order of 11 March 2024 required the State Bank of India (SBI) to provide the ECI with electoral-bond purchase and redemption details covering 12 April 2019 through 15 February 2024. The purchase information was to include the date, purchaser’s name and denomination; redemption information was to include the encashment date and denomination. The order described the purchase and redemption records as having been kept in separate “silos.” Supreme Court of India, 11 March 2024 order

Date What happened What it established
12 March 2024 SBI made an initial submission of purchase and redemption records to the ECI, according to SBI’s affidavit as reported by The Indian Express. The initial submission covered transaction information, but the affidavit did not establish whether it included the unique alphanumeric numbers. The Indian Express, 14 March 2024
15 March 2024 The Supreme Court recorded that it had been submitted that SBI had not disclosed the bonds’ alphanumeric numbers and issued notice to the bank. The code question remained unresolved at that point. The court also directed the ECI to upload earlier sealed data by 17 March. Supreme Court of India, 15 March 2024 order
21 March 2024 SBI said it provided the ECI all electoral-bond details in its possession and custody, including the alphanumeric numbers. The ECI confirmed receiving the data that day. This was the later submission that addressed the missing-number issue. The ECI said it uploaded the data as received. Election Commission of India, 21 March 2024 press note; The Indian Express, 22 March 2024

Were the unique codes included in the first submission?

The available record does not establish that they were. The Indian Express reported on 14 March that SBI’s initial affidavit did not say whether the unique code was part of the 12 March dataset. On 15 March, the Supreme Court recorded the claim that the alphanumeric numbers had not been disclosed. SBI’s later affidavit, as reported by The Indian Express, said the 21 March submission included each bond’s prefix and bond number, which SBI described as its alphanumeric number.

The distinction matters because the purchase and redemption records were held separately. The unique numbers could help connect a bond’s purchase record with its redemption record, showing which purchaser’s bond was redeemed by which political party. The two-stage timeline should not be compressed into a claim that the codes were part of the initial delivery.

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What became public—and what did not?

The ECI confirmed receipt on 21 March and stated that it uploaded the data “on ‘as is where is basis.’” Its note establishes receipt and upload; it does not independently list or verify every field SBI said it had supplied. ECI press note, 21 March 2024

SBI’s claim was that it had given the ECI all bond details in its possession and custody. That did not mean every sensitive banking or identity field was published: SBI said complete political-party account numbers and KYC details were not being made public, according to The Indian Express’s report on the affidavit. The Indian Express, 22 March 2024

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Why was SBI required to disclose the records?

On 15 February 2024, the Supreme Court struck down the Electoral Bond Scheme. Its subsequent disclosure directions covered bonds issued from 12 April 2019 through 15 February 2024. The court’s 11 March order required SBI to submit available transaction records to the ECI by 12 March after rejecting the bank’s request to extend the deadline to 30 June. The order attributed a total of 22,217 bonds purchased during the covered period to figures in SBI’s extension application. Supreme Court of India, 11 March 2024 order

The sequence of deadlines was also distinct: the original deadline for SBI was 6 March, the court’s 11 March order required compliance by 12 March, and the original judgment had set 13 March for the ECI’s publication. The 15 March direction to upload by 17 March concerned the earlier sealed data addressed in that order; it was separate from SBI’s later 21 March submission of alphanumeric numbers.

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