Electoral bonds: FinMin knew serial number could reveal donor's identity

Ministry was reluctant to assign serial numbers initially, but relented after SBI raised concerns about internal control and reconciliation

The finance ministry was initially reluctant to put up serial numbers on electoral bonds, saying they had the potential to reveal the identity of the donors, but agreed later on, after concerns were raised by State Bank of India (SBI).

After being entrusted with the task of issuing electoral bonds, SBI had raised certain concerns with the finance ministry, according to official documents accessed through the Right to Information (RTI) Act by activists Commodore Lokesh Batra (retired) and Anjali Bhardwaj.

This was after the Union government issued the framework for electoral bonds, a financial instrument for making anonymous donations to