What are unique alphanumeric codes on Electoral Bonds that SC has sought from SBI?

The Supreme Court on Monday (March 18) rapped the State Bank of India, telling it that it cannot be “selective” and needs to furnish all details on Electoral Bonds by Thursday (March 21).

The five-judge bench headed by Chief Justice of India DY Chandrachud asked State Bank of India (SBI) to specifically provide details of the unique alphanumeric numbers that each bond carries that will help in establishing the link between the buyer and the recipient political party.

What is an alphanumeric code?

Each Electoral Bond reportedly carries a unique alphanumeric code (a code consisting of letters from the English alphabet and numbers) that is not visible to the naked eye and can only been seen in a specific type of light.

How its existence came to light?

Details about the existence of such a unique feature on the bonds were first revealed in a report by The Quint in April 2018.

While the Electoral Bonds Scheme was based on keeping the buyer’s identity separate from that of the donor, it came to light that only these unique codes can help link the two.

The SBI, however, had then told The Quint that the code was just a “security feature” and there was no way to trace the money trail to the source.

The Finance Ministry in a press release also said the “random serial number” was not or cannot be used to track the donation or the buyer while asserting that the SBI was not keeping a note of the code in “any record associated with the buyer or political party depositing a particular electoral bond.”

However, a report by HuffPost India in November 2019, said that the bank was tracking all the buyers of electoral bonds as well as the parties that were availing these donations through the special alphanumeric codes.

What info on Electoral Bonds has SBI given so far?

The SBI has only furnished details of donors who purchased the bonds and that of political parties that encashed them, in two separate silos.

What SC said today?

Slamming SBI for giving half-baked information, the apex court said that in its February 15 judgement, it had categorically asked the bank to disclose all details including the date of purchase/redemption of bonds, name of purchaser/recipient, and the denomination of the bonds.

“There is no manner of doubt that the SBI was required to disclose all details. This, we clarify, will include the alpha-numeric number and the serial number, if any, of the bonds purchased,” the bench said.

The apex court asked the bank’s chairman to file an affidavit on Thursday (March 21) that it has disclosed all details in its custody and have no withheld anything.

What the SBI said in its response?

Senior advocate Harish Salve, who represented the bank, said that if the apex court requires the numbers of the electoral bonds, “we will give them”.