Hyderabad, March 19 -- As more information emerges on electoral bonds, a recent report by The Reporters' Collective states that SBI violated norms of electoral bonds by allowing Bharatiya Janata Party (BJP) to encash expired electoral bonds in 2018 and 2022.

According to the report, in 2018, the then Union finance minister late Arun Jaitley instructed the State Bank of India (SBI), the only bank where electoral bonds can be purchased, to let BJP encash expired electoral bonds worth Rs 10 crore.

An electoral bond allowed individuals, corporations or organisations to contribute or donate money to any political party anonymously by purchasing bonds from the SBI. It was introduced in 2017 under the Narendra Modi government. The expiry date ...