Why did SBI decline to disclose details of electoral bonds under the RTI Act
Investigate the reasons behind SBI's refusal to provide information on electoral bonds under RTI Act.
- The Electoral Bond Scheme was introduced by the government in 2018 to enable anonymous funding of political parties.
- SBI, being the sole authorized bank to issue electoral bonds, resisted disclosing information under the RTI Act citing confidentiality and security concerns.
- They argued that revealing details of electoral bonds could compromise the anonymity of donors and could potentially lead to security risks for the bondholders.
- Additionally, SBI may have wanted to protect the privacy of donors and maintain the integrity of the political funding process.
- The bank may have also cited the need to uphold government policies and directives related to electoral bonds as a reason for not disclosing information.
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a year ago