The Aryavarth Express
Agency(New Delhi): The Bank Employees Federation of India (BEFI), a trade union representing bank employees, has called on the State Bank of India (SBI) to comply with the Supreme Court’s directive to disclose the names of electoral bond scheme contributors to the Election Commission by the specified deadline. The SBI sought an extension until June 30 to fulfill this requirement, but the union emphasized the importance of adhering to the original deadline, citing concerns over the utilization of public sector banks for political ends.
In a landmark ruling last month, the Supreme Court declared the electoral bonds scheme unconstitutional, mandating the disclosure of donor information to ensure transparency and uphold the constitutional rights to freedom of speech and expression and the right to information. The judgment and the SBI’s subsequent request for an extension have ignited debate on the balance between donor anonymity and public transparency in political funding.
BEFI’s statement highlighted its opposition to using banks and their personnel for political purposes, pointing out recent instances where public sector banks were mobilized for activities aligned with the ruling party’s interests. The union advocates for a focus on recruitment within the banking sector and measures to prevent the misappropriation of public funds, rather than engaging in politically motivated initiatives.
As the country awaits the upcoming Lok Sabha polls, the issue of electoral bonds remains at the forefront of discussions on electoral integrity and transparency. The SBI’s appeal for an extension, attributed to logistical challenges in compiling the required data, has raised questions about the efficacy of current digital practices in the banking sector.
The Supreme Court’s decision to dismantle the electoral bond scheme reflects a significant shift towards greater accountability in political financing, with the banking sector playing a pivotal role in this transition. As the matter remains pending before the court, the BEFI’s call to action underscores the broader societal demand for timely justice and adherence to the principles of transparency and accountability in the democratic process.
