Former finance secretary Subhash Chandra Garg has leveled serious allegations against the State Bank of India (SBI), accusing it of mishandling electoral bond information and violating the principles of donor anonymity promised under the Electoral Bond Scheme. Garg’s assertions come amidst revelations of the SBI’s alleged recording of electoral bond numbers, which he contends were done unlawfully and unexpectedly.
The Electoral Bond Scheme, introduced to enhance transparency in political funding, has faced scrutiny over concerns of anonymity breaches and the potential for misuse. Garg, in his criticism, describes the handling of electoral bond information by the SBI as a significant departure from the scheme’s intended objectives.
Garg asserts that the SBI’s actions in recording the alphanumeric codes of electoral bonds purchased and redeemed constitute a breach of donor anonymity. This, he argues, undermines the fundamental principle of the scheme and raises doubts about the integrity of the electoral process. He further questions the veracity of the bank’s earlier affidavit on the matter, suggesting discrepancies and lack of transparency.
The allegations raised by Garg highlight the growing concerns surrounding the Electoral Bond Scheme and its implementation. As the debate continues, it is essential to address these allegations and ensure accountability and transparency in political funding practices.
