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Saturday, May 4, 2024
TopicElectoral bonds

Topic: electoral bonds

An electoral bond is a financial instrument for making donations to political parties. According to the Electoral Bond Scheme, 2018, it is a bond issued in the nature of a promissory note, which shall be bearer in character. A bearer instrument is one which does not carry the name of the buyer or payee, no ownership information is recorded and the holder of the instrument (i.e. political party) is presumed to be its owner.

The scheme allows individuals, who are citizens of India, and domestic companies to donate these bonds — issued in multiples of Rs 1,000, Rs 10,000, Rs 1 lakh, Rs 10 lakh, and Rs 1 crore — to political parties of their choice. The Supreme Court of India on February 15, 2024, struck down the electoral bonds scheme for anonymous funding to political parties as “unconstitutional”.

SBI stalling EBS disclosure reeks of political pressure. Deprives Indians of a sacred right

Sunil Fernandes -
Considering the exclusive nature of this information, one would have expected it to act with promptitude and disclose the relevant information, rather than applying for an extension.

SBI should make electoral bond disclosures before polls. Delay will undo SC’s transparency push

ThePrint Team -
ThePrint view on the most important issues.

SBI seeks extension till 30 June to furnish details of Electoral Bonds before Supreme Court

PTI -
The plea stated that due to stringent measures taken to ensure donors' anonymity, 'decoding' the electoral bonds and matching donors to the donations made would be a complex process.

From NOTA to win against electoral bonds, how IIM-A professors started ADR to fight for poll reforms

+TFP Amogh Rohmetra -
Non-profit organisation Association for Democratic Reforms on a mission to 'reduce money and muscle power in political system and make political parties more accountable, transparent'.

Don’t expect Supreme Court to be India’s Opposition. Its job isn’t that

Vir Sanghvi -
I’m glad the Chandigarh farce was called out. I’m pleased too that the SC went back to constitutional first principles in electoral bonds case. But don’t expect it to act as a force against the govt.

Our take on farmers protest, Modi in Middle East and electoral bonds – in 50 words

ThePrint Team -
ThePrint view on the most important issues this week.

SC ruling on bonds good but transparency problem in election expenditure still untouched

+TFP Gopalaswami N -
EBS is now gone, but ETS is still available, ECI should nudge political parties and the corporate world towards wider use of ETS. Then, at least one part of electoral funding can become cleaner.

‘Opportunity to ensure accountability’ — Urdu press hails SC’s move to strike down electoral bonds

Heena Fatima -
ThePrint’s round-up of how the Urdu media covered various news events through the week, and the editorial positions some of them took.

Electoral bonds can now redeem themselves and Supreme Court. Anonymity cloak set to come off

Apoorva Mandhani -
Electoral bonds are now set to bring transparency in political funding, but not in the way Arun Jaitley had claimed. The real deal will be when SBI reveals details of who donated how much to which political party.

Fewer ‘political consequences’, can help curb black money — why SC prefers electoral trusts to bonds

Akshat Jain -
While striking down electoral bond scheme, Supreme Court suggested using electoral trusts introduced by Congress-led UPA, calling it an 'effective alternative' for political donations.
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