In a crucial hearing today, the Supreme Court, led by Chief Justice D.Y. Chandrachud and a bench of five judges, is set to deliver its verdict on petitions challenging the validity of electoral bonds. The Constitutional Bench had reserved its decision on November 2 last year. Electoral bonds, introduced by the government on January 2, 2018, aim to bring transparency to political party funding by keeping a record of contributions.
What are Electoral Bonds?
Electoral bonds were created by the central government to streamline political party donations during elections. The government stated that these bonds are designed to enhance transparency in political funding. Under this scheme, each political party receives a detailed account of the funds contributed through electoral bonds.
Where to Obtain Electoral Bonds?
Electoral bonds, also known as the ‘Electoral Bonds Scheme’ in English, can be obtained from select branches of the State Bank of India. These branches are located in various cities, including New Delhi, Gandhinagar, Chandigarh, Bengaluru, Hyderabad, Bhubaneswar, Bhopal, Mumbai, Jaipur, Lucknow, Chennai, Kolkata, and Guwahati.
Can Anyone Purchase Electoral Bonds?
Yes, any Indian citizen, company, or organization can purchase electoral bonds to contribute towards political party funding. These bonds are available in denominations ranging from one thousand to one crore rupees. If you wish to make a donation to a political party, you can do so by purchasing electoral bonds from SBI and subsequently handing them over to the chosen party.
Donor Anonymity Preserved
One unique feature of electoral bonds is the preservation of donor anonymity. When an individual or organization purchases these bonds, their identity remains undisclosed to the public and the receiving political party. However, the government and the bank ensure the validity of funding sources, maintaining detailed records for auditing purposes.
As the Supreme Court takes up this pivotal case today, the nation awaits its decision on the fate and legitimacy of electoral bonds in the Indian political landscape.
