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The issue of electoral bonds in Indian politics has been a contentious one since their introduction in 2018. The bonds, which were intended to bring transparency and accountability to political funding, have faced criticism for their lack of transparency and potential for misuse.

One recent development in the ongoing debate over electoral bonds is the State Bank of India’s refusal to disclose the unique serial numbers of the bonds to the Election Commission of India. The unique serial numbers assigned to each electoral bond are crucial for tracking their use and ensuring that they are not being used to circumvent campaign finance laws.

The Chief Justice of India, SA Bobde, expressed anger and concern over the SBI’s refusal to provide these serial numbers, calling it a “serious issue.” The Supreme Court of India has been hearing a petition challenging the use of electoral bonds, with concerns raised about the lack of transparency and the potential for abuse in the system.

Electoral bonds allow individuals and corporations to donate money to political parties without revealing their identity. This lack of transparency has raised concerns about the influence of big money in politics and the potential for corruption.

The SBI’s refusal to disclose the unique serial numbers of the electoral bonds only adds to the concerns about the lack of transparency in the system. The Election Commission of India has also expressed its concern over the issue, stating that without access to the serial numbers, it is impossible to track the use of the bonds and ensure that they are not being used for illegal purposes.

The Supreme Court of India has indicated that it will be looking into the matter and has asked the SBI to provide an explanation for its refusal to disclose the serial numbers. The issue is likely to further fuel the debate over electoral bonds and the need for greater transparency and accountability in political funding in India.

In a democracy, it is essential that the electoral process is free and fair, and that the influence of money in politics is kept in check. The refusal of the SBI to disclose the unique serial numbers of electoral bonds only serves to undermine these principles and raise further questions about the integrity of the electoral system in India. It is imperative that steps are taken to ensure that political funding is transparent and accountable, and that the concerns raised over electoral bonds are addressed in a timely and effective manner.