May 7, 2026 · 10:00 AM
SBI has written to the Supreme Court registry seeking a two-week extension, citing 'data integration challenges across 29 branches.' The Court is expected to take up the extension plea on May 9. The original deadline expires May 22.
May 4, 2026 · 2:00 PM
The Association for Democratic Reforms has submitted a technical expert's affidavit to the Court explaining that matching bond numbers to encashment records is a straightforward database query — not a complex operation — directly contradicting SBI's 'operational complexity' argument.
Apr 27, 2026 · 6:30 PM
The Election Commission of India has confirmed to the Court that it never received matched bond-wise purchaser-to-party data from SBI during the scheme's six-year operation, contradicting the Finance Ministry's earlier position that the ECI had full visibility of the scheme.
In a sharp development, the Supreme Court of India on April 24 directed the State Bank of India to submit complete, matched data on all Electoral Bonds purchased and encashed under the now-struck-down scheme within four weeks. The five-judge Constitution Bench, led by Chief Justice D.Y. Chandrachud's successor, found that of 44,030 bonds in SBI's original disclosure, 22,217 remain unlinked — the purchaser organisation cannot be matched to the party that encashed the bond, making transparency impossible.
“The purpose of our February 2024 judgment was complete disclosure. What has been submitted is a list of names — not a reconciled account. SBI must submit matched, bond-number-linked data.”
— The Supreme Court Constitution Bench, order dated April 24, 2026
Electoral Bonds — What We Know and What Remains Hidden
- ₹16,518 crore in bonds sold between 2018 and 2024
- 44,030 total bonds: purchaser-party matching known for only 21,813
- 22,217 bonds remain unlinked (50.4% of total)
- SBI issued bonds; bonds were encashed at SBI branches — a direct match should be possible
- Top party recipient: BJP (₹6,986 crore — ET analysis of disclosed data)
- Scheme declared unconstitutional on February 15, 2024 (Association for Democratic Reforms vs Union of India)
The Attorney General of India, appearing for SBI, told the Court that 'linking 22,000 physical bonds with digital redemption records across 29 branches in 6 years is operationally complex and requires additional time.' The Bench rejected this argument, noting that SBI had previously claimed in an affidavit that it had 'all data necessary for full compliance.' The Court also asked the Election Commission whether it had received complete matched data from SBI during the scheme's operation, and the ECI's counsel stated it had not.
₹16,518Cr
Total bonds sold
50.4%
Bonds unlinked
4 weeks
New compliance deadline
2018–24
Scheme operated
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Priya Sharma
Political Correspondent
Priya covers Parliament and electoral politics from New Delhi. She has reported on six Union Budgets and three general elections.