The Election Commission of India — variously called the Election Commission, the ECI or EC — was set up in 1950 as an autonomous constitutional authority responsible for carrying out election processes in India. It administers elections to the Lok Sabha, Rajya Sabha, State Legislative Assemblies, and the offices of the President and Vice President.
Headquartered in Delhi, the Election Commission consists of three members — a chief election commissioner and two other commissioners — who are appointed by the President. They have a tenure of six years or until they reach the age of 65 years, whichever is earlier. The Election Commission prepares, maintains, and updates the electoral roll; supervises the nomination of candidates; registers political parties and classifies them on national and state levels; and monitors election campaigns, including political fund-raising.
Intuition suggests that the amounts being donated to political parties through these anonymous bonds are a tiny fraction of funds actually mobilised for political activity / fighting elections. Perhaps these amounts cover items of expenditure that must normally be paid by cheque – hiring of aircraft / helicopters, advertising in conventional media, etc.