SBI won’t provide the SOP for the purchase or redemption of election bonds

Citing the exemption granted under “commercial confidence,” the State Bank of India (SBI) has declined to provide its standard operating procedure for the sale and redemption of the electoral bonds issued to its approved branches, according to an RTI answer.

Transparency advocate Anjali Bhardwaj requested information on the standard operating procedure that the SBI’s authorized branches follow for the sale and redemption of electoral bonds in an application submitted under the Right to Information (RTI) Act.

The response from M Kanna Babu, the central public information officer and deputy general manager of the SBI, stated on March 30 that “Standard Operating Procedures (SOPs) of the Electoral Bond Scheme-2018 issued to authorised branches from time to time are internal guidelines with regard to the 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.”

A third party’s competitive position would be harmed by the disclosure of “information including commercial confidence, trade secrets, or intellectual property, unless the competent authority is satisfied that a larger public interest warrants the disclosure of such information,” according to Section 8(1)(d) of the Act.

“It is shocking to note that the SBI continues to deny important information about the operation of the electoral bonds scheme even after the SC struck down the scheme as unconstitutional,” Bhardwaj said in the meantime.