New Delhi: The Supreme Court of India on Thursday delivered a landmark unanimous verdict directing the State Bank of India to furnish complete details of all electoral bonds purchased since 2018 to the Election Commission of India within seven days, calling the scheme "a threat to the foundational principle of free and fair elections."
A five-judge Constitution Bench headed by the Chief Justice ruled that the right to information about political funding is intrinsic to the freedom of expression guaranteed under Article 19(1)(a) of the Constitution, and that voters have a fundamental right to know who is financing political parties.
Court Strikes Down Anonymity Provisions
The bench struck down the provision in the scheme that allowed donors to remain anonymous, saying secrecy in political funding "creates an environment where quid pro quo arrangements can flourish unchecked." The court noted that electoral bonds allowed unlimited corporate funding of political parties while shielding donors from public scrutiny.
The Attorney General, appearing for the Union government, had argued that donor anonymity was necessary to protect contributors from political victimisation. The court rejected this argument, saying the state cannot use the possibility of victimisation as a reason to deny citizens the right to know who funds their representatives.
The ruling is seen as one of the most significant electoral reform verdicts in recent Indian history and is expected to have far-reaching implications for how political parties are financed.