<div><br></div><div>&nbsp;India’s top court today ordered the state-run bank to publish details of previously anonymous political donations made in the form of controversial electoral bonds – with the disclosures to be made before upcoming national polls.</div><div><br></div><div>Last month, the Supreme Court had outlawed the scheme, under which individuals and companies could anonymously buy electoral bonds, saying it “infringes upon the right of information of the voter”.</div><div><br></div><div>Electoral bonds have been a key method of political funding, allowing donors to give anonymously through certificates purchased from the State Bank of India (SBI).</div><div><br></div><div>Critics condemned the campaign financing method as an opaque way to funnel “black money” to parties, but supporters say it provides better regulation than cash donations, which are still legal.</div><div><br></div><div>The SBI had requested an extension on publishing the bond details until June 30 – by which time the general election would have been completed.</div><div><br></div><div>Nearly a billion people are eligible to cast ballots in the elections, likely to be held in April and May, with Prime Minister Narendra Modi widely expected to win a third term in power.</div><div><br></div><div>But chief justice Dhananjaya Yeshwant Chandrachud gave the SBI until March 12 to comply, warning if the bank failed to do so it risked being charged with “wilful disobedience”.</div><div><br></div><div>The SBI had argued it needed more time to prepare the “complex” payment details, but the court said the information was “already available” within the bank.</div><div><br></div><div>The initial court order on Feb 15 argued that information about political party funding was “essential for the effective exercise of the choice of voting”.</div><div><br></div><div>It ruled that the SBI must submit details of each bond – including who purchased it – since April 2019 to the electoral commission, which must publish those details on its website by March 13.</div><div><br></div><div>In addition to concerns the scheme allowed huge anonymous donations to parties, critics also feared it gave the government the power to access donor details through the state-owned SBI.</div><div><br></div><div>Modi’s party has previously defended electoral bonds, arguing the process is more transparent than direct cash donations because it is channelled through the banking system.</div><div><br></div><div>Cash donations are still allowed, but carry no tax exemption. - AFP&nbsp;</div><div><br></div><div>bnbd24/fas</div>