Supreme Court Strikes Down Electoral Bonds, Halts SBI Issuance



Quick Summary
The Supreme Court has ruled the Electoral Bond scheme unconstitutional, finding it violates the right to freedom of speech and expression. The court has ordered the State Bank of India to immediately stop issuing new electoral bonds. Furthermore, the SBI must provide details of all contributions made through electoral bonds since April 12, 2019, to the Election Commission.

On February 15th, the Supreme Court delivered its long-awaited verdict on a series of petitions challenging the Electoral Bond scheme, a system allowing for anonymous funding to political parties. The landmark judgment, delivered by a five-judge Constitution bench headed by Chief Justice D Y Chandra
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FAQ :

The Supreme Court declared the Electoral Bond scheme unconstitutional, stating it violates the fundamental right to freedom of speech and expression.

The Supreme Court has directed the State Bank of India to halt the issuance of electoral bonds immediately.

The SBI must submit details of political parties that received contributions through electoral bonds from April 12, 2019, to the present date.

The scheme was found to violate the right to information and freedom of speech, as it allowed for anonymous funding to political parties.

Yes, the Supreme Court reaffirmed that the right to privacy includes citizens' right to political privacy and affiliation.




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Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.

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