Decoding electoral bonds data

The first tranche of data on electoral bonds disclosed by the Election Commission of India on March 14, 2024, under the directions of the Supreme Court, provides an incomplete picture of the transactions that have taken place between various companies and individuals on the one hand and registered political parties on the other, between April 12, 2019 and January 24, 2024.

The apex court has now directed the State Bank of India (SBI) to ensure “complete disclosure of all details in its possession” by March 21, 2024 including “the alphanumeric number and serial number of the Electoral Bonds which were purchased and redeemed”.

The SBI has recorded every detail of 18,871 purchases and 20,421 encashments of electoral bonds between April 2019 and January 2024. However, in the absence of the unique alphanumeric numbers, only the total amount of electoral bonds purchased by each company or individual can be estimated as also the total amount of electoral bonds each political party has encashed; but it is impossible to establish who has paid whom and when.