The Aam Aadmi Party convener was asked to respond to the showcause by today failing which the EC was free to "take a decision without any further reference" to him.
The EC now granted him time till 3 PM on Saturday to respond to the notice after Kejriwal sought more time today.
He has to respond to an earlier notice issued by the Commission for another case of alleged Model Code of Conduct violation by tomorrow morning.
The EC notice said the statement, made during a public rally on January 18 in Uttam Nagar here, amounts to "abetting and promoting electoral offence of bribery" under relevant sections of Representation of the People Act read with provisions of the IPC.