Former Finance Secretary Subhash Chandra Garg stated on Thursday that the State Bank of India had access to information about who purchased electoral bonds, when and for how much, and which parties deposited EBs, along with the date and amount. However, he added that it was not possible to match each EB with its intended recipient.
Garg, who served as the department’s secretary of economic affairs during the 2017 formulation of the Electoral Bond Scheme, 2018, said a credible news outlet that SBI’s motion to the Supreme Court on Monday, asking for a further three months to furnish data, was a “cooked up excuse.” On February 15, the Supreme Court invalidated the electoral bond programme and ordered SBI to provide the EC with donor and party information by March 6.
On Thursday, former finance secretary Subhash Chandra Garg said that the State Bank of India possessed information regarding who bought electoral bonds, when and how much they paid, and which parties deposited EBs. It is not possible to match each EB with its intended recipient, he continued.
Garg, who was the department’s secretary of economic affairs in 2017 when the Electoral Bond Scheme was being developed in 2018, said a reliable news source that the Supreme Bank of India’s (SBI) Monday move requesting an additional three months to provide data was a “cooked up excuse.” The Supreme Court ruled on February 15 that the electoral bond programme was unconstitutional and directed SBI to give the EC donor and party information by March 6.
Garg said the amount, date, and specifics of the bonds purchased had been requested by the SC from SBI. Garg stated that the SC had not requested this information, despite the SBI application stating that it would take till June 30 to match the donors with the gifts because the data was physically stored in distinct silos. He said that the bank was attempting to initiate a “wild goose chase” with the court.
“The information on who purchased, when, and how much of the electoral bond is available on the computer, even if one considers that they might not have entered the denomination separately. Similarly, the computers also have information about who deposited, how much of the EB amount they deposited, and when they placed it.
