News Reading Practice #58

(100 Day Challenge)


Apex court puts SBI on notice for 'willful disobedience'


In a huge setback to the State Bank of India (SBI), the Supreme Court on Monday junked its plea seeking an extension of time and ordered it to disclose the data of electoral bonds encashed by political parties to the Election Commission by close of business hours on March 12. 

A five-judge Constitution bench headed by Chief Justice of India D.Y. Chandrachud also directed the Election Commission to publish the details shared by the bank on its official website by 5 pm on March 15. 

The CJI-led bench, also comprising Justices Sanjiv Khanna, B.R. Gavai, J.B. Pardiwala, and Manoj Misra, put the SBI on notice that the apex court may be inclined to proceed against it for "wilful disobedience" of its February 15 verdict if the bank failed to comply with its directions and timelines. 

In a landmark verdict delivered on February 15, a five-judge Constitution bench had scrapped the Union government's electoral bonds scheme that allowed anonymous political funding, calling it "unconstitutional" and ordered disclosure by the EC of donors, the amount donated by them and the recipients by March 13. 

Ordering the forthwith closure of the scheme, the top court had last month directed the SBI, the authorised banker under the scheme, to submit by March 6 the details of the electoral bonds purchased since April 12, 2019, till date to the Election Commission.


The five-judge Constitution bench headed by Chief Justice of India D.Y. Chandrachud (centre) during hearing on the SBI's plea seeking more time to disclose electoral bonds in New Delhi on Monday. - PTI


FURNISH: To provide or supply (information, details, etc.).(നൽകുക)

POLL BOND: A financial instrument used for political funding during elections.(ഇന്ത്യയിലെ രാഷ്ട്രീയ പാർട്ടികൾക്ക് ധനസഹായം നൽകുന്ന ഒരു മാർഗം)

APEX: The highest point or part; in this context, refers to the Supreme Court.(സുപ്രിം കോടതി)

WILFUL DISOBEDIENCE: Intentional failure to follow orders or directions.(മനഃപൂർവമായ അനുസരണക്കേട്)

SETBACK: A reversal or check in progress; a disappointment or hindrance.(തിരിച്ചടി)

JUNK: Rejected or discarded as without value or use.(തള്ളിക്കളഞ്ഞു)

PLEA: A request or appeal made in an urgent manner.(അപേക്ഷ)

EXTENSION: Additional time granted for a particular purpose or activity.(നീട്ടിക്കൊടുക്കൽ)

DISCLOSE: To make information known or reveal.(വെളിപ്പെടുത്തുക)

ENCASHED: Converted into cash, typically referring to financial instruments.(ചെക്കും മറ്റും പണമായി മാറ്റുക)

COMPRISE: Including or consisting of; made up of.(ഉൾപ്പെടുന്നു)

PUT ON NOTICE: Officially informed or warned about something.(നോട്ടീസ് നൽകി)

INCLINED: Willing or favorably disposed toward a particular course of action.(താത്പര്യം)

VERDICT: A formal decision or judgment made by a court.(വിധി)

COMPLY: To adhere to or fulfill the requirements of something.(പാലിക്കുന്നതിൽ)

LANDMARK: A significant or pivotal point in a process or development.(നാഴികക്കല്ലായ)

SCRAPPED: Abolished or abandoned; put an end to.(റദ്ദാക്കി)

SCHEME: A plan or program of action designed to achieve a particular result.(പദ്ധതി)

ANONYMOUS: Without a known or disclosed identity.(അജ്ഞാത)

UNCONSTITUTIONAL: Not in accordance with the principles or rules of a constitution.(ഭരണഘടനാ വിരുദ്ധം)

FORTHWITH CLOSURE: Immediate and prompt termination or conclusion.(ഉടൻ അടച്ചുപൂട്ടൽ)

AUTHORISED: Legally empowered or officially permitted.(അംഗീകൃതമായ)