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    ELECTORAL BOND SBI CASE

    SC to consider listing PIL for court-monitored SIT probe into electoral bond scheme

    Magicpin, an offline fashion discovery and savings platform, has seen a 100% year-on-year increase in brand on-boarding, adding 1000 brands across fashion, QSR, and fine dine categories. The platform has also added over 75,000 local merchants in the last 12 months, bringing the total to 2,75,000 merchants and 3,000 brands.

    It's taxing times for electoral bond buyers after Supreme Court's Feb verdict

    More than 1,000 entities who purchased electoral bonds for political donations may now face inquiries from tax authorities regarding the deductions claimed on these contributions, following the Supreme Court's decision to invalidate the scheme in February. The Supreme Court, in its ruling on February 15, declared the electoral bond scheme unconstitutional. Since its introduction in January 2018, the scheme had amassed Rs 16,518 crore in donations for political parties.

    Anna Hazare must raise voice against scams in Maharashtra, country: Sanjay Raut

    Shiv Sena (UBT) leader Sanjay Raut called for anti-graft activist Anna Hazare to expose nationwide scams, particularly the electoral bonds issue. Raut referenced reports of Hazare challenging the closure report on the Maharashtra State Cooperative Bank scandal involving Deputy Chief Minister Ajit Pawar. He urged Hazare to protest against corruption at the Ramlila Maidan and criticized the alleged misuse of funds by central agencies benefiting the BJP.

    Need an alternative to electoral bond scheme, black money's impact on polls to rise, says Home Minister Amit Shah

    Home Minister Amit Shah expressed concerns that the scrapping of the electoral bond scheme by the Supreme Court could lead to an increase in the influence of black money during the ongoing Lok Sabha elections. He said that an alternative should be debated in Parliament. The debate should involve all stakeholders including political parties, Shah said. He emphasised the need for collective deliberation to decide on a new solution following the court's judgment that the scheme violated constitutional rights.

    Big electoral bond buyer Megha Engineering to sell city gas business

    Megha City Gas Distribution (MCGDPL), a wholly-owned subsidiary, has decided to consolidate operations and reached out to state-run Indian Oil Corp, Hindustan Petroleum Corp, Bharat Petroleum Corp and Indraprastha Gas, among other players. It ventured into city gas distribution under the brand name Megha Gas in 2015 and continued to operate as MEIL till FY22.

    "Intellectual property of the bank": SBI once again refuses to disclose SOPs on sale, redemption of electoral bonds

    In response to a Right to Information Act appeal, State Bank of India (SBI) has again refused to disclose the standard operating procedures (SOPs) for the sale and redemption of electoral bonds. SBI justified the denial by stating that the information is held in "commercial confidence," constitutes the bank's "intellectual property," and is intended solely for internal staff use.

    The Economic Times
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