SBI refuses to disclose SOP for sale, redemption of electoral bonds in RTI reply

New Delhi: Citing the exemption given under "commercial confidence" clause under RTI, the SBI has refused to disclose its Standard Operating Procedures (SOPs) for the sale and redemption of the electoral bonds, a decision that attracted the criticism of transparency activists.

Transparency activist Anjali Bhardwaj, who is a trustee of Common Cause that filed a petition against electoral bonds, had sought a copy of the SOPs issued to the SBI's authorised branches on the sale and redemption of the electoral bonds.

In its response on March 30, the SBI said, "Standard Operating Procedures (SOPs) of Electoral Bond Scheme-2018 issued to authorised branches from time to time are internal guidelines with regard to sale and redemption of electoral bonds (meant for internal circulation only), which is exempted under section 8(1)(d) of the Right to Information Act."

Section 8(1)(d) of the Right to Information Act exempts from revelation "information including commercial confidence, trade secrets or intellectual property, the disclosure of which would harm the competitive position of a third party unless the competent authority is satisfied that larger public interest warrants the disclosure of such information".

"The SBI has blandly invoked the exemption clause without demonstrating how the disclosure would 'harm the competitive position of a third party'. The denial will be challenged in appeal," Bhardwaj said adding, she had sought a copy of the SOP due to the "lack of clarity" over the manner in which SBI recorded data on transactions through electoral bonds.

"It is shocking to note that even after the Supreme Court has struck down the electoral bonds scheme as unconstitutional and explicitly directed and ensured disclosure of all details of the EBs purchased and redeemed, the SBI continues to deny important information about the operation of the electoral bonds scheme," Bhardwaj said.

The SOPs would reveal the official instructions governing the particulars of information that were to be stored as well as the form and manner in which information was to be maintained by the bank on the sale and redemption of the electoral bonds, she said.

"It is relevant to note that the SBI cited the standard operating procedures in its application dated March 4, when it sought additional time of four months to comply with the Supreme Court's judgement to disclose the details of the electoral bonds," she said.

In its verdict on February 15, the Supreme Court had declared the electoral bonds scheme that allowed anonymous political funding as "unconstitutional" and ordered disclosure by the EC of the donors, the amounts donated by them and the recipients.