Andhra Pradesh: State chief YS Sharmila holds protest against SBI seeking time to disclose electoral bond details

Vijaywada (Andhra Pradesh) [India], March 7 (ANI): Andhra Pradesh Congress Committee chief YS Sharmila Reddy on Thursday held a protest at the State Bank of India (SBI) branch in the wake of the recent Supreme Court verdict advocating the release of electoral bonds.
YS Sharmila Reddy led a protest at the Gandhinagar SBI Bank here today, responding to the call of the AICC.
The court, emphasized that the electoral bonds, introduced by the BJP, should be transparently disclosed. The controversial Electoral Bonds system has been criticized for its alleged role in facilitating illegal financial transactions, with the beneficiaries remaining undisclosed.
"The bonds, seemingly designed for the greater benefit of the BJP, raise concerns about potential quid pro quo and illegal financial dealings," YS Sharmila stated.
She further accused the SBI, often regarded as the people's bank, of acting as "Modi Bank," emphasizing its alignment with the ruling party.
"The Congress party demands immediate disclosure of bond details, arguing that the process would require minimal effort, approximately 10 minutes' work. The party contends that SBI's protection of Modi's organization instead of acting as a people's organization is a cause for concern," she said.
"SBI's answer is deemed ridiculous, and if the BJP has the courage, they should advocate for the release of the bonds to uphold transparency. Despite the apprehensions, the Congress party asserts its fearlessness and calls for an open and honest disclosure of bond details, emphasizing the importance of transparency in the democratic process," she added.
Meanwhile, SBI has moved the Supreme Court seeking an extension of time till June 30 to submit details of Electoral Bonds to the Election Commission of India.
SBI in its application said that it needs extra time to disclose details of electoral bonds encashed by political parties.
There are certain practical difficulties with the decoding exercise and the timeline fixed for it, said the bank.
On March 15, the Constitution bench of the Supreme Court asked the SBI to furnish details of the political parties that received Electoral Bonds since April 12, 2019, and all the particulars received and submit them to the Election Commission of India by March 6. (ANI)