sbi Archives

Electoral Bond Controversy: What It Means For 2024 Lok Sabha Elections, And Supreme Court’s Role In It

Snehashish RoyMarch 12, 20240

The 2024 Lok Sabha elections in India are poised to witness significant repercussions following the State Bank of India’s (SBI) recent involvement in the electoral bond controversy. The electoral bonds scheme, which allowed political parties to receive anonymous donations, was declared unconstitutional by the Supreme Court on February 15, 2024. The court ordered the SBI to provide details of all electoral bond contributions received by political parties from the scheme’s inception in 2019 up to the present date by March 6, 2024. This verdict has far-reaching implications for political funding transparency and accountability. The SBI has sought an extension until June 30, 2024, to disclose donor details associated with electoral bonds. The bank cites logistical challenges and prac...

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‘Biggest Scam In Independent To Date’: Rahul Gandhi Slams BJP Over ABG Shipyard Bank Fraud; Opposition Takes A Jibe

Sonia SolankiFebruary 13, 20220

The Central Bureau of Investigation (CBI) files a case against the ABG Shipyard for conning 28 banks for the astronomical amount of Rs 22,842 crore. The ABG Shipyard Ltd is the flagship company of the ABG Group and is located in Dahej and Surat, Gujarat. The ABG Group is associated with shipbuilding and ship repair. The FIR was filed against ABG Shipyard and its then chairman Rishi Kamlesh Agarwal, executive director Santhanam Muthaswamy and directors Ashwini Kumar, Sushil Kumar and Ravi Vimal Nevetia. The case is filed under the IPC and the Prevention of Corruption Act by the CBI. FIR also mentions another company ABG International Pvt. Ltd. The complaint by the CBI includes 28 banks including popular ones like ICICI, SBI, IDBI, BOB, PNB and others. The State Bank of India fi...