DNA Explainer: What are unique alpha-numeric numbers of electoral bonds, which SC asked SBI to disclose?

In a recent development, the Supreme Court of India has reiterated its stance on the disclosure of electoral bond details held by the State Bank of India (SBI), emphasising the importance of revealing unique alpha-numeric numbers associated with these bonds. Here's a breakdown of what these unique identifiers entail and why they are significant.

What are Unique Alpha-Numeric Numbers?

Each electoral bond issued by the State Bank of India is assigned a specific alphanumeric code. These codes are crucial as they serve to establish a direct connection between the purchaser of the bond and the party receiving the funds. Notably, these numbers are visible only under ultraviolet light, adding an extra layer of security and confidentiality to the process.

The disclosure of these unique alpha-numeric numbers is essential for transparency. By revealing these, the link between donors and the recipients can be effectively traced and scrutinised. This transparency is crucial for upholding the integrity of the electoral process and ensuring accountability in political financing.

Despite previous directives from the Supreme Court urging the SBI to disclose all details related to electoral bonds, including the alpha-numeric numbers, there have been delays in compliance. 

The court has reiterated its stance, emphasising that the SBI cannot be selective in its disclosure and must provide all details, as mandated by the earlier verdict.

Senior advocate Harish Salve, representing the SBI, has assured the court that the bank is prepared to disclose the numbers of electoral bonds if required.