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India's Democracy at a Crossroads: Unmasking Institutional Vulnerabilities

Recent Judicial Directives and High-Profile Resignations Expose the Fragility of Democracy and Its Institutions Ahead of the 2024 General Elections

By Neeraj Thakur
New Update
Democracy

Democracy at a crossroads | Representative image | Photo courtesy: Special arrangement

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In a significant development on Monday, the Supreme Court of India took a firm stance against the State Bank of India (SBI), denying the bank's plea for additional time until June 30 to unveil the identities of anonymous donors who bought electoral bonds, along with the specifics of their encashment by political parties. This decision comes as a huge setback for SBI, which has faced widespread criticism for seemingly aligning with the interests of the BJP-led central government. The SBI has been attacked by various quarters for planning a calculated delay to push the disclosure past the 2024 Lok Sabha elections.

Read More: Electoral Bonds: Anonymous Donor Names will Set the Cat Among the Pigeons

In an unequivocal assertion of its authority, the Supreme Court's directive to the SBI cuts through the fog of procedural delays, demanding the immediate disclosure of electoral bond donors by March 12. The ECI, on the other hand, has been tasked with making these details public by March 15, no later than 5 PM. The apex court also warned the SBI about potential contempt proceedings should it fail to comply with its orders. Despite the SBI's initial request for a three-month period to disclose the donor details—information that was, notably, already in its possession—the Supreme Court's decision to require disclosure within a drastically shorter timeframe of 24 hours has come as a major embarrassment to the public sector bank.

In a landmark decision last month, a five-judge Constitution Bench invalidated the electoral bonds scheme, compelling the SBI, the designated financial insti