Electoral bonds verdict updates | Supreme Court declares electoral bonds scheme unconstitutional

Supreme Court says anonymity in the electoral bonds scheme was ‘selective’, not ‘fool-proof’; upholds right to keep political affiliations private from state intrusion, indirect influences; BJP says it respects the verdict and Opposition parties welcome the decision saying it ensures ‘level playing field’

February 15, 2024 09:42 am | Updated 09:59 pm IST

The Supreme Court of India, New Delhi.

The Supreme Court of India, New Delhi. | Photo Credit: The Hindu

In a landmark unanimous judgment, the Supreme Court on February 15 struck down as “unconstitutional and manifestly arbitrary” the electoral bonds scheme, which provides blanket anonymity to political donors, as well as critical legal amendments allowing rich corporations to make unlimited political donations.

The five-judge Constitution Bench also quashed the amendments made to the Income Tax Act and the Representation of People Act which made the donations anonymous.

While the court arrived at a unanimous decision with the Chief Justice delivering the lead verdict, Justice Sanjiv Khanna has penned a concurring opinion with a slightly different reasoning. 

Notably, the State Bank of India was ordered to furnish details of the electoral bonds received by political parties to the Election Commission of India by March 6. The ECI will subsequently publish such details on its official website by March 13. 

Electoral bonds that have not been encashed by political parties yet have been ordered to be returned following which the issuing bank will refund the amount to the purchaser’s account. 

Meanwhile, the BJP said that The BJP said that it respected the verdict of the Supreme Court but insisted that the scheme had a “laudable objective of bringing transparency in poll funding”. 

Several Opposition parties welcomed the decision, with the Congress saying it will reinforce the power of votes over notes. Congress president Mallikarjun Kharge hoped the Modi government will stop resorting to such “mischievous ideas” in future. Welcoming the judgment, the CPI(M) said it was an “unscrupulous scheme designed to help the ruling party” and it was now essential to introduce reforms for political and electoral funding.

Also read | The legality of the electoral bonds scheme | Explained

The scheme, which was notified by the government on January 2, 2018, introduced money instruments through which companies and individuals in India can donate to political parties anonymously. Consequently, Congress leader Dr. Jaya Thakur, the Communist Party of India (Marxist), and the NGO Association for Democratic Reforms (ADR) challenged the scheme by contending that it opens the “floodgates” to anonymous political donations thereby infringing upon the voters’ right to information. 

The Union government on the other hand defended the scheme by pointing out that anonymity in political donations is required to ensure that there is no apprehension of retribution from other political parties. It was also argued that the scheme ensures that ‘white’ money is used for political funding through proper banking channels.

Follow the updates here:
  • February 15, 2024 21:20
    Supreme Court upholds right to keep political affiliations private from State intrusion, indirect influences

    Electoral bonds case | Supreme Court upholds right to keep political affiliations private from State intrusion, indirect influences

    Supreme Court verdict on electoral bonds: The top court rules that the right to privacy includes political affiliations, protecting against misuse and suppression.

    “Forming political beliefs and opinions is the first stage of political expression. Political expression cannot be exercised freely in the absence of privacy,” Chief Justice Chandrachud observed. He added that a lack of privacy about political affiliations would “disproportionately affect” people whose views do not match with that of the mainstream.

  • February 15, 2024 20:41
    Anonymity in electoral bonds scheme was ‘selective’: Supreme Court

    Electoral bonds scheme verdict | Anonymity in scheme was ‘selective’, not ‘fool-proof’: Supreme Court

    Electoral Bonds verdict: Supreme Court concludes that electoral bonds do not provide fool-proof anonymity, allowing political parties to know contributors' identities.

    “While it is true that the law prescribes anonymity as a central characteristic of electoral bonds, the de jure anonymity of the contributors does not translate to de facto anonymity,” a Constitution Bench headed by Chief Justice of India D.Y. Chandrachud observed in its judgment quashing the electoral bonds scheme.

  • February 15, 2024 20:03
    Trinamool welcomes Supreme Court verdict scrapping electoral bond scheme

    Welcoming the Supreme Court’s landmark judgment annulling the electoral bonds scheme, the Trinamool Congress said people have the right to know the source of funding of political parties.

    Without naming any political outfit, Trinamool spokesperson Kunal Ghosh said the verdict was a blow to the party which introduced the bonds in the country.

    “People have the right to know the source of funding of political parties. We welcome the Supreme Court judgment,” Ghosh told reporters here. He claimed that the TMC has always been in favour of transparency. - PTI

  • February 15, 2024 19:39
    Supreme Court verdict annulling Electoral Bonds Scheme to strengthen democracy: RJD

    The Rashtriya Janata Dal (RJD), the main opposition party in Bihar, welcomed the verdict of the Supreme Court striking down the Electoral Bonds Scheme and said the judgement will strengthen democracy.

    The scheme had been brought to benefit the ruling BJP at the Centre from anonymous donors, the RJD’s state spokesperson Mrityunjay Tiwary said.

    “We welcome this historic verdict of the SC. It will strengthen democracy and increase people’s faith in the system. The judgement will also ensure that the electoral funding process becomes transparent,” he said. - PTI

  • February 15, 2024 18:55
    CPI(M) hails SC verdict on electoral bonds, calls for reforms for political funding

    Welcoming the Supreme Court judgment striking down electoral bonds, the CPI(M), the only political party among the petitioners in the case, said it was an “unscrupulous scheme designed to help the ruling party” and it was now essential to introduce reforms for political and electoral funding.

    “The Polit Bureau of the CPI(M) hails the historic judgment of the Supreme Court, which has struck down the electoral bonds scheme as unconstitutional. By this verdict, this unscrupulous scheme designed to finance the ruling party by anonymous corporate donors has been completely scrapped,” the party said in a statement.

    The party had declared at the outset itself that it would not accept electoral bonds as this scheme legalises corruption, the statement read, adding that the CPI(M) had challenged the electoral bonds scheme in the Supreme Court along with other petitioners.

    In a post on X, CPI(M) general secretary Sitaram Yechury said he was glad that the unanimous verdict has upheld the party’s contention.

    Mr. Yechury said the CPI(M) was the only political party that did not accept electoral bonds, and called it “legalisation of corruption”. - PTI

  • February 15, 2024 18:34
    Left parties in Bihar welcome Supreme Court verdict

    CPI(M-L) Liberation general secretary Dipankar Bhattacharya hailed the Supreme Court’s decision to strike down the Electoral Bond Scheme, describing it as “anti-democratic and unconstitutional.”

    The CPI also welcomed the apex court verdict.

    A statement by Ram Naresh Pandey, state secretary (Bihar), CPI, said, “This decision of the SC will strengthen the democratic system in the country. Electoral bonds are against the democratic system of the country”. - PTI

  • February 15, 2024 16:51
    We respect the verdict, says BJP’s Ravi Shankar Prasad

    BJP leader Ravi Shankar Prasad says that his party “respects” the Supreme Court verdict on electoral bonds. 

    “Electoral bonds had laudable objective of bringing transparency in electoral funding,” he says.

  • February 15, 2024 16:33
    AIADMK chief Edappadi K. Palaniswami welcomes Supreme Court decision

    Welcoming the Supreme Court’s verdict on electoral bonds, AIADMK general secretary Edappadi K. Palaniswami said his party was the only party that did not receive funds through the scheme. 

    Speaking to reporters outside the Assembly House, Mr. Palaniswami called upon the media to expose all those parties that received hefty sums through the electoral bonds.

    “It’s a pretty huge sum raised through bonds... those parties are suppressing us and trying to destroy us with their money power. Definitely we welcome it,” he said. - PTI

  • February 15, 2024 16:10
    Tamil Nadu CM Stalin welcomes Supreme Court verdict

    Tamil Nadu Chief Minister M. K. Stalin welcomed the Supreme Court order striking down the electoral bonds scheme as unconstitutional. 

  • February 15, 2024 15:29
    Historic and in the interest of clean democracy: Former CEC Krishnamurthy

    Former Chief Election Commissioner T. S. Krishnamurthy termed as “historic” the Supreme Court verdict annulling the electoral bonds scheme for political funding, and said it’s in the interest of a clean democracy. Mr. Krishnamurthy said he entirely agreed with the judgment, noting that he had made public statements in the past that the electoral bonds scheme is not right for transparency in political funding.

    He said, “In fact, the scheme is not at all the right method, though it was claimed that it is promoting transparency because it goes through the banking channel. But the origin of the funding and name of the donor are not known. And how do you know if it’s clean money or dirty money; it’s not known.” 

    “It is a historic judgment, it’s in the interest of a clean democracy. I only hope that the political parties will learn their lessons,” Mr. Krishnamurthy said. - PTI

  • February 15, 2024 15:24
    Great blow to those who had to depend on undisclosed funds: Bikash Ranjan Bhattacharya

    CPI(M) Rajya Sabha MP and senior advocate Bikash Ranjan Bhattacharya said it will also help people to have their independent opinion while polling, being uninfluenced by money power.

    “This judgement is one of the important verdicts to protect the Indian Parliamentary democracy from the influence of anonymous contributions,” Mr. Bhattacharya said.

    Mr. Bhattacharya said that it would have been more welcome if the apex court directed the refund of all the money received by different political parties to the donors since the introduction of the electoral bonds scheme in 2018.

    Asked whether the landmark judgement will have any impact on the coming Lok Sabha elections, he said, “This will be a great blow to those political parties who had to depend a lot on such undisclosed funds. - PTI

  • February 15, 2024 15:21
    Today, we stand vindicated: Pawan Khera

    Party spokesperson Pawan Khera said at a press conference in New Delhi that the Congress has been fighting this battle for the last seven years both within Parliament and outside and its stand has been vindicated. “We welcome the judgment of the Hon’ble Supreme Court,” he told reporters.

    “We are grateful to the Supreme Court of India. We, as a nation, stand strengthened and encouraged,” Mr. Khera said and added that, “Today, we stand vindicated”.

    Mr. Khera charged that the electoral bonds were “a wilful tool of concealment, of absolute exoneration from political accountability”. “That was their only purpose and all the intellectualisations offered at the time have failed to withstand judicial scrutiny,” he noted. - PTI

  • February 15, 2024 15:16
    Another proof of Narendra Modi’s “corrupt” policies: Rahul Gandhi

    On the Supreme Court verdict of the electoral bonds, former Congress president Rahul Gandhi said, “Another proof of Narendra Modi’s corrupt policies is in front of you. The BJP had made electoral bonds a medium for taking bribe and commission. Today a stamp has been put on this.” - PTI

  • February 15, 2024 15:12
    Hope government will stop resorting to “mischievous ideas”: Mallikarjun Kharge

    The Congress welcomed the Supreme Court verdict striking down the electoral bonds scheme, and said that it will reinforce the power of votes over notes.

    The Opposition party also said that it hopes that the Modi government will stop resorting to such “mischievous ideas” in the future and listen to the Supreme Court so that democracy, transparency and level-playing field persist.

    In a post on X, Congress president Mallikarjun Kharge welcomed the Supreme Court decision and hoped the government will stop resorting to “such mischievous ideas” in the future.

    He said the Congress had called the scheme “opaque and undemocratic” when it was launched. - PTI

  • February 15, 2024 15:08
    Glad that the unanimous verdict has upheld party’s contention: Sitaram Yechury

    Welcoming the Supreme Court judgment striking down electoral bonds, the CPI(M) said it was an “unscrupulous scheme designed to help the ruling party” and it was now essential to introduce reforms for political and electoral funding.

    “It is gratifying that the main contentions set out in the petition against the scheme have been upheld. It is essential now that reforms for political and electoral funding are introduced to ensure transparency, clean funding and a level playing field,” the party said.

    In a post on X, CPI(M) general secretary Sitaram Yechury added that he was glad that the unanimous verdict has upheld the party’s contention. “Congratulations to our Counsel Shadan Farasat and others who effectively argued the case,” Mr. Yechury said. - PTI

  • February 15, 2024 14:06
    Let the world know who gave money: Chidambaram
  • February 15, 2024 14:02
    Important step in ensuring transparency: AAP

    The Aam Aadmi Party welcomed the Supreme Court’s decision on electoral bonds, saying it is an important step in ensuring transparency in election funding.

    “We welcome this decision. This is an important step in the transparency of election funding. Otherwise through electoral bonds, it was not known which person was giving funds to which party. It is important for country’s democracy that it is known which person is giving how much money to which political party,” Delhi Cabinet minister Atishi told reporters outside the Assembly. - PTI

  • February 15, 2024 13:36
    Sharad Pawar-led NCP welcomes SC decision

    The Sharad Pawar-led NCP faction said the Supreme Court’s decision to strike down the electoral bonds scheme is a welcome move and there should be transparency and accountability of every donation that comes to a political party.

    NCP-Sharadchandra Pawar spokesperson Clyde Crasto claimed the electoral bonds scheme was brought to practice to benefit the ruling Bharatiya Janata Party from anonymous donors and BJP is the only party that has benefited from it since it was implemented.

    This scheme cannot rule out the possibility of a ‘quid pro quo’ from an individual or a company to a political party and therefore seeing the quantum of electoral bonds received by the BJP, this is a possibility, he added.

    “The Supreme Court’s decision to strike down the electoral bonds scheme, calling it “unconstitutional”, is a very welcome move. There should be transparency and accountability of every donation that comes to a political party,” Mr. Crasto said. — PTI

  • February 15, 2024 13:34
    Ray of hope for democracy, says Kapil Sibal

    Rajya Sabha MP Kapil Sibal called SC’s decision “a ray of hope for democracy”. Mr. Sibal reacted to the SC verdict calling Electoral Bonds scheme as the “brainchild” of late BJP leader Arun Jaitley.

    “This is a huge ray of hope not just for a, b or c political party but for democracy itself. It’s a huge ray of hope for the citizens of this country,” said Mr. Sibal. 

    “This whole scheme which was the brainchild of my late friend Arun Jaitley, which was in fact choreographed to enrich the BJP. Because everybody knew that the BJP was in power and that any donations through the electoral bond scheme would come to the BJP,” added Mr. Sibal.

    “But the interesting part is that this electoral bond scheme had nothing to do with elections. It was really the bonding between the corporate sector and the BJP which received the largest number of donations, and the donations they received over the years amounted to about five to 6000 cores,” said Mr. Sibal.

    “Now with 5,000 to 6,000 cores in your kitty which is not to be used in elections at all. You can build your infrastructure as a political party. You can build the infrastructure for the RSS. You can set up your communication network throughout the country,” added Mr. Sibal. — PTI

  • February 15, 2024 12:59
    SC verdict a great boon for democracy: former CEC Quraishi

    The Supreme Court verdict striking down the electoral bonds scheme is a “great boon for democracy”, former chief election commissioner S Y Quraishi said. 

    “This will restore people’s faith in democracy. This is the greatest thing that could have happened. This is the most historic judgement that we have got from the Supreme Court in the last five-seven years. It is a great boon for democracy,” Quraishi told PTI Videos..

    “We were all concerned for the last so many years. Everyone who loves democracy was protesting about it. I myself wrote several articles, spoke to the media many times. And every issue that we raised has been tackled in the judgment,” he said.

  • February 15, 2024 12:58
    A historical step for democracy: Advocate Varun Thakur

    Advocate Varun Thakur, who represented Jaya Thakur in the case, described the ruling as a historical step for democracy.

    “This is a major setback for the government because the SC has directed to disclose all transactions between 2019-24. It has also directed the SBI to submit a full report to the Election Commission. And it has also directed the Election Commission to disclose that report within a week.

    “So this is a very big setback... the way donations were being taken off the record. Now accountability will be fixed: whether policies have been formed to favour those who have donated. The public have the right to know this... We can say that democracy has won today.” 

  • February 15, 2024 12:56
    Judgment will help bring in transparency in political funding: Petitioner Jaya Thakur

    The Supreme Court’s decision to strike down the electoral bond scheme will help bring in transparency in political funding and protect the interest of people, Congress leader Jaya Thakur, who had challenged the scheme in the apex court, told PTI. 

    The Supreme Court’s decision to strike down the electoral bond scheme will help bring in transparency in political funding and protect the interest of people, Congress leader Jaya Thakur, who had challenged the scheme in the apex court, said 

  • February 15, 2024 12:54
    CPI welcomes the judgment

    “We opposed Electoral Bonds from the very beginning and never accepted funding through Electoral Bonds. We are ideologically against corporate influence in elections,” says the Communist Party of India.

  • February 15, 2024 12:05
    Verdict will reinforce power of votes over notes: Congress

    The Congress has welcomed the Supreme Court verdict striking down the electoral bond scheme, and said it will reinforce the power of votes over notes.

    In a post on X, Congress general secretary Jairam Ramesh said, “The Supreme Court has held the much-touted Electoral Bonds scheme of the Modi Sarkar as violative of both laws passed by Parliament as well as the Constitution of India.” 

  • February 15, 2024 11:56
    SC advocate Shadan Farasat on the verdict

    Responding to the SC verdict, advocate Shadan Farasat said, “Supreme Court has unanimously struck down the electoral bond amendments. The amendments that were the basis of the scheme have been struck down from different enactments like the Income Tax Act and others.”

    “Supreme Court agreed with our submissions. The amendments which were introduced to ensure the anonymity of the scheme have been struck down and based on that, consequently, the scheme itself has been struck down,” he added.

  • February 15, 2024 11:36
    Petitions filed have been comprehensively allowed: Prashant Bhushan

    Senior advocate Prashant Bhushan said that the petitions filed have been comprehensively allowed by the Supreme Court.

    Speaking on the SC verdict, the senior lawyer said, “The Supreme Court has struck down the electoral bond scheme, comprehensively struck it down, and all the provisions that were made to bring it into effect in the Income Tax Act, in the Companies Act, etc. Everything has been struck down.”

    “They have held that this violates the fundamental right to information of citizens to know about who is contributing this much money to political parties, et cetera. They have also struck down the amendment made, which allowed unlimited political contribution being made by companies to political parties,” he added.

    “So not only the electoral bond scheme but also the amendment which removed the restrictions on political contributions by companies, which were that you cannot contribute more than seven and a half per cent of your annual profit by way of political contributions. That has also been struck down as violating the level playing field in a democracy. So the petitions filed by us have been comprehensively allowed by the Supreme Court,” Mr. Prashant Bhushan said.

  • February 15, 2024 11:11
    The pronouncement of the verdict ends
  • February 15, 2024 11:08
    Justice Sanjiv Khanna concurs with CJI Chandrachud’s judgment

    “ I agree with the judgment of the CJI. I have also applied the principles of proportionality but with a slight variation. But the conclusions are the same”, Justice Sanjiv Khanna says. 

  • February 15, 2024 11:07
    SBI ordered to furnish details of electoral bonds encashed by political parties to the Election Commission of India

    The court directs SBI to furnish the details of electoral bonds encashed by the political parties to the Election Commission of India (ECI). 

    The ECI will publish such details on the website by March 31, 2024.

  • February 15, 2024 11:03
    The Court directs SBI to immediately stop the issuance of electoral bonds

    “The issuing bank shall forthwith stop the issue of electoral bonds. The State Bank of India shall furnish the details of donations through electoral bonds and the details of the political parties which received the contributions”, the court orders. 

  • February 15, 2024 11:03
    The court arrives at the following conclusions –

    1. Electoral bonds scheme is violative of Article 19(1)(a) and unconstitutional.

    2. The amendments to the Companies Act are unconstitutional.

  • February 15, 2024 11:01
    Amendment to Section 182 of the Companies Act becomes otiose in view of our finding that the electoral bonds scheme is unconstitutional: CJI Chandrachud

    “A company has more graver influence on the political process than contributions by individuals. Contributions by companies are purely business transactions. Amendment to Section 182 Companies Act is manifestly arbitrary for treating companies and individuals alike”, the CJI adds. 

  • February 15, 2024 11:00
    The amendment to the Companies Act which allows blanket corporate political funding is unconstitutional

    The court further ruled that the amendment to the Companies Act which allows blanket corporate political funding is unconstitutional. 

  • February 15, 2024 10:57
    Supreme Court holds that the Electoral bonds scheme has to be struck down as unconstitutional
  • February 15, 2024 10:57
    Amendments made to the Income Tax Act and Section 29C of the Representation of Peoples Act are ultra vires

    Amendments made to the Income Tax Act provision and Section 29C of the Representation of Peoples Act are declared to be ultra vires: CJI Chandrachud 

  • February 15, 2024 10:56
    The right to privacy of political affiliation does not extend to contributions made to influence public policy: CJI Chandrachud

    The CJI further says that the right to privacy of political affiliation does not extend to contributions made to influence public policy and applies only to contributions below the threshold. 

  • February 15, 2024 10:55
    Not all political contributions are made with the intent to alter public policy: CJI Chandrachud

    “Not all political contributions are made with the intent to alter public policy. Students, daily wagers, etc also contribute. To not grant an umbrella of privacy to political contributions only because some contributions are made for other purposes is not impermissible”: CJI Chandrachud 

  • February 15, 2024 10:54
    The infringement of the right to information is not justified by the purpose of curbing black money: CJI Chandrachud

    The CJI says that the infringement of the right to information is not justified by the purpose of curbing black money and that informational privacy applies to political contributions too.

  • February 15, 2024 10:50
    Financial support to political parties can lead to a quid pro quo arrangement: CJI Chandrachud

    CJI Chandrachud further elucidates that financial support to political parties can lead to a quid pro quo arrangement. He points out that the electoral bonds scheme is not the only scheme to curb black money as there are other alternatives.

  • February 15, 2024 10:48
    Anonymous electoral bonds are violative of the right to information

    The court rules that anonymous electoral bonds are violative of the right to information and Article 19(1)(a) of the Constitution. 

  • February 15, 2024 10:47
    Information about the funding of political parties is essential for electoral choices: CJI Chandrachud 

    “Political parties are relevant units in the electoral process. Information about the funding of political parties is essential for electoral choices”: CJI Chandrachud 

  • February 15, 2024 10:46
    The right to information is not confined to state affairs but also includes information necessary for participatory democracy : CJI Chandrachud

    CJI Chandrachud says – “The courts have held that citizens have the right to hold the government to account. The crucial aspect of the expansion of the right to information is that it is not confined to state affairs but also includes information necessary for participatory democracy.” 

  • February 15, 2024 10:44
    CJI Chandrachud reads out the issues raised in the petitions

    The CJI reads out the verdict. He says that the following issues have been raised in the petitions – 

    (a) Whether amendments are violative of the right to information under Article 19(1)(a)? 

    (b) Whether unlimited corporate funding violate the principles of free and fair elections? 

  • February 15, 2024 10:42
    The Bench has arrived at a unanimous verdict: CJI D.Y. Chandrachud

    CJI Chandrachud says that the bench has arrived at a unanimous verdict. There are two concurring opinions of the court. One authored by CJI D.Y. Chandrachud and the other by Justice Sanjiv Khanna. There is however a slight variance in the reasoning.

  • February 15, 2024 10:40
    The Bench has assembled for the pronouncement of the verdict
  • February 15, 2024 10:00
    CJI-led five-judge Constitution Bench to deliver verdict at 10:30 am today

    A five-judge Constitution Bench comprising Chief Justice of India (CJI) DY Chandrachud and Justices Sanjiv Khanna, BR Gavai, JB Pardiwala, and Manoj Misra will deliver the verdict at 10:30 am today. The proceedings can be watched here–

  • February 15, 2024 09:57
    Parties’ unknown income rise despite electoral bonds | Data

    Share of income from unknown sources to national parties was lower at 66% in the two years before the scheme compared to the 72% afterwards. 

    Read The Hindu’s report here

     Parties’ unknown income rise despite electoral bonds | Data

    AG submits electoral bonds promote “clean money” to SC; Bench raises possibility of influential entities buying bonds through verified accounts; ADR data shows share of unknown sources of income has increased post scheme's introduction; BJP cornered 57% of income from bonds; unknown income shifted from <₹20K donations & coupon sales to bonds.

  • February 15, 2024 09:55
    Challenging the Electoral Bond Scheme

    With the constitutionality of electoral bonds being contested more strongly, the citizen must push for a more level-playing field in the next round of elections. Read more here

  • February 15, 2024 09:52
    Which political party received the most donations from electoral bonds?

    As per an affidavit filed in the Supreme Court last year, the BJP has received over Rs. 5,271 crores as donations through electoral bonds, so far (Rs. 5271,97,58,000), while the Congress has received over Rs. 952 crores (Rs. 952,29,56,000).

    Among regional parties, Biju Janata Dal received over Rs 622 crores, while YSR Congress got over Rs. 330 crores (Rs. 330,44,00,000).

    WhatsApp Image 2023-11-01 at 12.57.31 PM.jpeg

  • February 15, 2024 09:49
    BJP got nearly ₹1300 crore through electoral bonds in 2022-23, over 7 times what Congress received

    The ruling BJP received nearly ₹1,300 crore through electoral bonds in the 2022-23, which was seven times more than what the Congress got in the same period through the same route. 

    Read more here

  • February 15, 2024 09:48
    54% of BJP’s total income came from electoral bonds

    The ruling party’s total income rose to ₹2,361 crore in 2022-23 from ₹1,917 crore in 2021-22, according to the annual audit report of the BJP made public by the Election Commission. Read more here

    54% of BJP’s total income came from electoral bonds

    The BJP received ₹1,294.14 crore through electoral bonds, accounting for 54% of its income, while the Congress received significantly less.

  • February 15, 2024 09:47
    Supreme Court flags possibility of electoral bonds being used to trade favours

    A Constitution Bench on October 31 raised the scenario of influential entities covertly setting up persons with verified accounts to purchase electoral bonds for them through the regular banking route in order to curry favour or anonymously enter into a quid pro quo with ruling political parties.

    Read more here.

  • February 15, 2024 09:45
    What are the objections raised by the ECI and the RBI against the scheme?

    In an affidavit filed before the Supreme Court in 2019, the ECI said that electoral bonds would wreck transparency in political funding and invite foreign corporate powers to impact Indian politics.

    Here is The Hindu’s detailed explainer on the reservations expressed by the ECI and the RBI against the scheme. 

  • February 15, 2024 09:44
    What is the electoral bonds scheme?

    Read The Hindu’s detailed explainer on the scheme here

    The legality of the electoral bonds scheme | Explained

    With the Supreme Court set to hear final arguments on the validity of the electoral bonds scheme on October 31, The Hindu looks at the contentious issues surrounding the legality of the scheme

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