RTI Activist Claims SBI Refused To Disclose SOP For Sale, Redemption Of Electoral Bonds

Weeks after the Supreme Court directed the State Bank of India (SBI) to share data related to Electoral Bonds citing the Right to information, the SBI on Tuesday turned down a request asking for its standard operating procedure (SOP) related to sale and encashment of electoral bonds, claims an RTI activist. According to the reports, the SBI in its reply to a request filed by activist Anjali Bhardwaj said, the bank can not share the details as it is exempted given under "commercial confidence".

"Standard Operating Procedures (SOPs) of Electoral Bond Scheme-2018 issued to authorised branches from time to time are internal guidelines with regard to sale and redemption of electoral bonds (meant for internal circulation only), which is exempted under section 8(1)(d) of the Right to Information Act," the SBI said.

"This section relates to information including commercial confidence, trade secrets or intellectual property, the disclosure of which would harm the competitive position of a third party, unless the competent authority is satisfied that larger public interest warrants the disclosure of such information," a quote from RTI published by NDTV.

Expressing disappointment over SBI's answer to her query, the RTI activist said: "It is shocking to note that even after the Supreme Court has struck down the electoral bonds scheme as unconstitutional and explicitly directed and ensured disclosure of all details of the electoral bonds purchased and redeemed, the SBI continues to deny important information about the operation of the scheme."

She added that SOPs would have helped in disclosing how this electoral bond cycle worked and sale and encashment records would be matched easily.