Electoral Bond Transparency Back in Court: SC to Decide on Unique Bond Numbers
Last Updated on March 18, 2024 by News Desk
The Supreme Court of India is set to hear a crucial case concerning the Electoral Bond Scheme today. The central issue revolves around the disclosure of unique identification numbers associated with Electoral Bonds.
Reasoning Behind Disclosure:
The February 15th judgment by a Constitution Bench of the Supreme Court had declared the Electoral Bond Scheme unconstitutional due to its lack of transparency. Anonymity in political funding, the court argued, violated the Right to Information enshrined in Article 19(1)(a) of the Constitution. Consequently, the court directed the State Bank of India (SBI), the sole issuer of Electoral Bonds, to cease issuing them.
Arguments for Disclosure:
The crux of the current hearing lies in ensuring complete transparency. Without the unique bond numbers, it’s impossible to establish a link between donors and the political parties they fund. This lack of traceability undermines the court’s previous judgment and hinders efforts to achieve transparency in political financing.
The Election Commission of India (ECI) has already uploaded details of donations received by political parties based on previous court orders. However, the absence of donor information through unique bond numbers renders these details incomplete.
Arguments Against Disclosure:
Those opposing disclosure might argue that revealing donor identities could lead to intimidation or undue influence on businesses. However, such concerns must be balanced against the public’s right to know the sources of political funding, which is crucial for ensuring accountability.
Citizens Rights Trust’s Application:
Further complicating the matter is an application by the Citizens Rights Trust seeking disclosure of details for Electoral Bonds sold prior to the February 15th judgment. This raises questions about the retrospective application of the court’s ruling.
Conclusion:
The Supreme Court’s decision today will be critical in determining the level of transparency achieved with regards to Electoral Bond funding. Disclosing unique bond numbers appears to be the only way to ensure full compliance with the court’s earlier judgment and uphold transparency in political financing.
Written by — Athi Venkatesh
