Hindi English Translation || Editorial || Names and bonds: On electoral bonds scheme, the Supreme Court, and the State Bank of India

Names and bonds: On electoral bonds scheme, the Supreme Court, and the State Bank of India

The Court did well to thwart (विफल करना) SBI’s attempt to delay details of electoral bonds

The Supreme Court’s refusal to grant (allow, permit, accept, agree) any further time to the State Bank of India (SBI) to furnish (give, provide, present, issue) details of those who purchased and parties that encashed (hange, change something into money; convert something into cash) electoral bonds since April 2019 has foiled (prevent, stop, block, thwart, obstruct, hamper, hinder, impede) an ill-advised (ill-considered, ill-judged, misguided, badly planned) attempt to seek (ask for, request, petition for, appeal for) postponement (स्थगन, विलंब, पुनर्निर्धारण) of the disclosure (revelation, report, release, publishing, declaration, announcement) until after the general election. The SBI has now been asked to disclose (खुलासा करना, प्रकट करना) to the Election Commission of India (ECI), by the end of March 12, the names of details of the purchasers of the bonds, the dates on which these were bought, and denominations (the face value of a banknote; the value of the individual currency). The bank should also disclose the names of parties that redeemed (exchange, convert, cash in; recover, get back) the bonds, along with dates and denominations. The ECI has to host (give. provide, present, pronounce) the information on its website by March 15. The upshot (परिणाम) of the bank’s application (आवेदन) for time until June 30 is that it is now quite clear that it must disclose the data available to it, and need not try and match the names of the donors with the parties. It appears that the initial directions (दिशा) of the Constitution Bench (संविधान पीठ), as part of its February 15 judgment invalidating (अमान्य करना) the electoral bonds (an electoral bond is designed to be a bearer instrument like a Promissory Note — in effect, it will be similar to a bank note that is payable to the bearer on demand and free of interest. It can be purchased by any citizen of India or a body incorporated in India. it allows limitless, secret donations to political parties, including (and especially) by corporations) scheme, had been construed (understand, interpret, take to mean, see, regard) to mean that the SBI was required to match with exactitude (accuracy, precision, exactness, preciseness) all the purchasers with the recipients. The bank deemed (consider, regard as, see, view) this a “time-consuming (अधिक समय लेना)” exercise, as the details were in separate silos (any system/process/department which is unable to operate with others. It functions alone and does not wish to share information with others) and not stored in digital format.

In rejecting the bank’s application for time and keeping the threat of contempt (it refers to the offence of showing disrespect to the dignity or authority of a court (& its officers)) action alive, the Court has sent a message that it will not brook (tolerate, put up with, allow/accept (something like dissent/difference of opinion)) any further delay. The Bench (a court of law with a number of judges) has also rightly questioned the bank’s silence on what had been done to comply with (पालन करना) the order until the filing of an application for extension of time, just two days before the March 6 deadline. It is now quite apparent (स्पष्ट) that even manually matching the two datasets could not have taken as long as (जब तक) the four months the SBI wanted. A question may arise as to (concerning, with respect to, regarding, with reference to, with regard to, in connection with) whether the voters’ right to information, the very basis (base, premise, ground, justification, foundation) for the Court finding (conclusion arrived at (as a result of an inquiry/investigation)) the anonymous (गुमनाम) donation scheme unconstitutional (असंवैधानिक), will be fulfilled (पूरा करना) by mere (just, only) disclosure of the names of bond purchasers and the parties that received the funds, without authentic (genuine, real, actual, bona fide, true, attested, legitimate, legal) data on who donated what amount to which party. Given (considering, taking into account, bearing in mind) that the bonds have to be redeemed within a 15-day window (interval, opportunity, opening), it may still be possible for a diligent (careful, attentive, thorough, meticulous, painstaking) civil society (civil society refers to space for collective action around shared interests, purposes, and values, generally distinct from government and commercial for-profit actors. It refers to a wide array of organizations: community groups, non-governmental organizations [NGOs], labour unions, indigenous groups, charitable organizations, faith-based organizations, professional associations, and foundations. Civil society - sometimes called the “third sector” (after government and commerce) - has the power to influence the actions of elected policy-makers and businesses) to use the disclosures to match donors and parties based on the proximity (nearness or closeness) between dates of purchase and redemption (the process of redeeming; it refers to the repayment of the Financial Instrument (example; bond) by the issuer to the holder before it reaches maturity). The data may also help unravel (reveal, explain, clarify, sort out, explain, decipher, find an answer to) whether corporate houses or individuals benefited from their donations to ruling parties at the Centre and in the States, or if the contributions were made in response to any threat of investigation and prosecution (legal action, legal proceeding, legal case).

Courtesy: The Hindu

Important Word List With Meaning

1.thwart (verb)

Hindi Meaning - विफल करना
English Meaning - prevent, stop, block, foil, obstruct, hamper, hinder, impede.

2.postponement (noun)

Hindi Meaning - स्थगन, विलंब, पुनर्निर्धारण
English Meaning - deferral, delay, rescheduling, putting off/back.

3.disclose (verb)

Hindi Meaning - खुलासा करना, प्रकट करना
English Meaning - reveal, report, release, publish, declare, announce.

4.upshot (noun)

Hindi Meaning - परिणाम
English Meaning - result, outcome, effect, repercussion, reverberations, ramification.

5.application (noun)

Hindi Meaning - आवेदन
English Meaning - request. appeal, petition, plea.

6.direction (noun)

Hindi Meaning - दिशा
English Meaning - order, directive, instruction, requirement.

7.Constitution Bench (noun)

Hindi Meaning - संविधान पीठ
English Meaning - a bench of the Supreme Court having five or more judges on it. These benches are not a routine phenomenon. Constitution Benches are exceptions, set up only if some circumstances exist).

8.invalidate (verb)

Hindi Meaning - अमान्य करना
English Meaning - nullify, annul, cancel, quash, overturn, overrule, abolish, repeal, revoke.

9.time-consuming (adjective)

Hindi Meaning - अधिक समय लेना
English Meaning - arduous, demanding, challenging.

10.comply with (verb)

Hindi Meaning - पालन करना
English Meaning - follow, obey, stick to, abide by, conform to.

11.apparent (adjective)

Hindi Meaning - स्पष्ट
English Meaning - obvious, visible, tangible, observable, evident.

12.as long as (phrase)

Hindi Meaning - जब तक
English Meaning - so long as.

13.anonymous (adjective)

Hindi Meaning - गुमनाम
English Meaning - nameless, incognito, unknown/unspecified.

14.unconstitutional (adjective)

Hindi Meaning - असंवैधानिक
English Meaning - impermissible, unlawful, illegitimate, unauthorized, prohibited, forbidden.

15.fulfil (verb)

Hindi Meaning - पूरा करना
English Meaning - carry out, perform, accomplish, effect, finish, complete, achieve.

16.electoral bond (noun)

English Meaning - an electoral bond is designed to be a bearer instrument like a Promissory Note — in effect, it will be similar to a bank note that is payable to the bearer on demand and free of interest. It can be purchased by any citizen of India or a body incorporated in India. it allows limitless, secret donations to political parties, including (and especially) by corporations.

17.grant (verb)

English Meaning - allow, permit, accept, agree.

18.furnish (verb)

English Meaning - give, provide, present, issue.

19.encash (verb)

English Meaning - exchange, change something into money; convert something into cash.

20.foil (verb)

English Meaning - prevent, stop, block, thwart, obstruct, hamper, hinder, impede.

21.ill-advised (adjective)

English Meaning - ill-considered, ill-judged, misguided, badly planned.

22.seek (verb)

English Meaning - ask for, request, petition for, appeal for.

23.disclosure (noun)

English Meaning - revelation, report, release, publishing, declaration, announcement.

24.denomination (noun)

English Meaning - the face value of a banknote; the value of the individual currency.

25.redeem (verb)

English Meaning - exchange, convert, cash in; recover, get back.

26.host (verb)

English Meaning - give. provide, present, pronounce.

27.bench (noun)

English Meaning - a court of law with a number of judges.

28.Division Bench (noun)

English Meaning - a bench of two or three judges is called a division bench.

29.construe (verb)

English Meaning - understand, interpret, take to mean, see, regard.

30.exactitude (noun)

English Meaning - accuracy, precision, exactness, preciseness.

31.deem (verb)

English Meaning - consider, regard as, see, view.

32.silo (noun)

English Meaning - any system/process/department which is unable to operate with others. It functions alone and does not wish to share information with others.

33.contempt (noun)

English Meaning - it refers to the offence of showing disrespect to the dignity or authority of a court (& its officers).

34.brook (verb)

English Meaning - tolerate, put up with, allow/accept (something like dissent/difference of opinion).

35.as to (phrase)

English Meaning - concerning, with respect to, regarding, with reference to, with regard to, in connection with.

36.Right to Information (RTI) Act, 2005 (noun)

English Meaning - An Act to provide for setting out the practical regime of right to information for citizens to secure access to information under the control of public authorities, in order to promote transparency and accountability in the working of every public authority, the constitution of a Central Information Commission and State Information Commissions and for matters connected therewith or incidental thereto.

37.basis (noun)

English Meaning - base, premise, ground, justification, foundation.

38.findings (noun)

English Meaning - conclusion arrived at (as a result of an inquiry/investigation).

39.mere (adjective)

English Meaning - just, only.

40.authentic (adjective)

English Meaning - genuine, real, actual, bona fide, true, attested, legitimate, legal.

41.given (preposition)

English Meaning - considering, taking into account, bearing in mind.

42.window (noun)

English Meaning - interval, opportunity, opening.

43.diligent (adjective)

English Meaning - careful, attentive, thorough, meticulous, painstaking.

44.civil society (noun)

English Meaning - civil society refers to space for collective action around shared interests, purposes, and values, generally distinct from government and commercial for-profit actors. It refers to a wide array of organizations: community groups, non-governmental organizations [NGOs], labour unions, indigenous groups, charitable organizations, faith-based organizations, professional associations, and foundations. Civil society - sometimes called the “third sector” (after government and commerce) - has the power to influence the actions of elected policy-makers and businesses.

45.proximity (noun)

English Meaning - nearness or closeness.

46.redemption (noun)

English Meaning - the process of redeeming; it refers to the repayment of the Financial Instrument (example; bond) by the issuer to the holder before it reaches maturity.

47.unravel (noun)

English Meaning - reveal, explain, clarify, sort out, explain, decipher, find an answer to.

48.prosecution (noun)

English Meaning - legal action, legal proceeding, legal case.