Key Points
Former RBI Governor Raghuram Rajan and a critic of the Narendra Modi-led government at the Centre said that electoral bonds are a bad way of financing elections as the only people who know who donated what are the State Bank of India (SBI)...
Raghuram Rajan, former RBI Governor & esteemed economist,elaborates on the potential dangers posed by the secret electoral bonds introduced by the Modi govt, comparing them to the risks associated with cash stored in homes...
Electoral bonds, which were introduced in 2018, are interest-free bearer bonds or money instruments that can be purchased by companies and individuals in India from authorised branches of the State Bank of India (SBI)...
While the Electoral Bond scheme seeks to ensure anonymity for the donor, the electoral trusts under the previous scheme were required to submit to the Election Commission of India a report on contributions from individuals and companies, and their donations to parties every year...
The apex court added that the Union government ought to consider designing a new tailor-made system that balances proportionality and paves the way for a level playing field instead of putting a premium on opacity.. Recently, the Income Tax Department recovered Rs 351 crore during raids at the premises of Congress MP Dheeraj Sahu..
You might be interested in
SC Bar Association writes to President Murmu, seeks holding back of SC's judgment declaring electoral bond
12, Mar, 24The Supreme Court Bar Association (SCBA) has urged President Droupadi Murmu for a Presidential Reference in the Electoral Bonds case. SCBA President Adish Aggarwala's letter emphasizes the court's judgment deeming the current form of electoral bonds unconstitutional. Aggarwala defends the legislative intention behind the scheme, arguing against judgments that create a constitutional stalemate and undermine parliamentary authority.
Modi’s Party Was Biggest Beneficiary of Now-Banned Electoral Bonds
18, Mar, 24A little known Indian lottery company was the top buyer of now-banned electoral bonds over the past five years, raising questions about political donor funding in the world’s biggest democracy.
Transparency in poll funding could lead to a national clean-up
27, Mar, 24Let’s aim for transparent funding trails and reduced influence of money on poll outcomes.
Electoral bonds verdict: The three directions issued by Supreme Court
15, Feb, 24Electoral bonds scheme was on Thursday struck down as unconstitutional by the Supreme Court. | Latest News India
Electoral bond pleas to be heard on Oct 31
10, Oct, 23The court will also consider whether the amendments that enabled the scheme should have been passed as a money bill. | Latest News India
Mint Explainer: Demystifying the electoral bonds scheme
18, Oct, 23Examining the concerns related to the transparency and accountability of the scheme, as well as its potential for misuse as a political funding source.
‘What was wrong with the idea?’: Nitin Gadkari questions critics of electoral bonds
18, Mar, 24The ‘unconstitutional’ scheme was struck down by the Supreme Court on February 15. | Latest News India
What are electoral bonds? What is the argument against poll funding scheme?
15, Feb, 24The Supreme Court is set to pronounce its verdict on a batch of petitions challenging the validity of the electoral bond scheme today. | Latest News India
10 important observations SC made while striking down electoral bonds scheme as unconstitutional
15, Feb, 24Supreme Court in its electoral bonds judgment observed that 'contributions translate into influence over policymaking'.
100% for BJD, 99% for DMK — electoral bonds a big chunk of 'donations' to regional parties in FY23
15, Dec, 23Electoral bonds scheme has been slammed by Opposition over the yrs, but audit reports released by ECI show parties like TMC, AAP & BRS are raking it in via these financial instruments.