Electoral bonds: 'SC order a tight slap on SBI, feel sorry for Chairman,' says P Chidambaram

Former Finance Minister P Chidambaram on Monday said the order of the Supreme Court (SC) was a tight slap on the SBI for its defiance of the earlier directions for electoral bond details. "This was a self-inflicted stain. The order of the Supreme Court today gives an opportunity to SBI to wipe the stain and redeem itself," he said. "I am sorry for the Chairman of SBI and the fine band of officers that they placed themselves in this situation."

Earlier in the day, the SC rejected the SBI's plea, seeking an extension of the deadline to submit electoral bond details. The apex court said the details are readily available with the bank and it must furnish them by Tuesday. 

After the order came, Karti Chidambaram, son of P Chidambaram, said,"SBI should have never filed an application asking for an extension in time. I am glad that the Supreme Court has thrown their application and asked them to make full disclosure by tomorrow." 

The Congress MP said the people of India have the right to know who purchased the electoral bond, who are the beneficiaries, and whether any quid pro quo has been given by the government to anyone who contributed to them. The top court on February 15 had struck down the electoral bond scheme, and called it 'unconstitutional'.