The government will work out the nitty-gritties of the electoral bonds announced in the Union Budget with the RBI and come out with a detailed scheme, Finance Minister Arun Jaitley said in response to a query from The Hindu .
“One of the (RBI) board members did ask some questions in a bid to seek a clarification about what the government had in mind. And I’ve suggested and explained what the government has in mind, with regard to electoral reforms,” Mr. Jaitley said.
“Now, the whole scheme... we will be announcing after discussing with the RBI itself, as to which is the designated bank, what is the duration of the bonds, at what period of time and for how long should these be opened before every elections. These are all minor details which will be a part of the scheme that will come out,” the Finance Minister said.
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