India’s voters deserve a bond — of probity
9 months ago

India’s voters deserve a bond — of probity

The Hindu  

There are a few basic tenets of good laws and public policies: lack of ambiguity, enforceability, predictability, and accountability. As a solution, the Finance Minister proposed a reform, the EBS, which “will bring about greater transparency and accountability in political funding, while preventing future generation of black money”. However, the real twist in the tale is that according to Section 7 of The Electoral Bond Scheme, 2018, the information furnished by the buyer “shall be treated confidential by the authorised bank and shall not be disclosed to any authority for any purposes, except when demanded by a competent court or upon registration of criminal case by any law enforcement agency”. It is for Parliament to work it out Many proponents of the EBS have criticised the Court for not suggesting a ‘less worse’ method of political funding and dragging political parties to the “dark alleys” of black money. Why are political parties not determined to accept clean money, and not funds that are “furtively slipped under the door”?

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History of this topic

INTERVIEW | ‘Regional parties a key factor in many states,’ says Sukhbir Singh Badal
8 months ago

INTERVIEW | ‘Regional parties a key factor in many states,’ says Sukhbir Singh Badal

New Indian Express  

Q: What’s your take on the electoral bonds issue? Q: The INDIA bloc has been accusing the BJP of trying to crush opposition by misusing central agencies, your take on it? The Congress, which heads the INDIA alliance, is responsible not only for attacking Sri Darbar Sahib with tanks and mortars, but is also responsible for the genocide of Sikhs …

Electoral bonds will be back after consultations: Finance Minister Nirmala Sitharaman
8 months ago

Electoral bonds will be back after consultations: Finance Minister Nirmala Sitharaman

Hindustan Times  

The Bharatiya Janata Party intends to bring back electoral bonds in some form after wide consultations will all stakeholders if it is elected back to power in the 2024 general elections, Union finance minister Nirmala Sitharaman said on Friday, reposing her faith in the controversial political funding scheme that was scrapped by the Supreme Court in February but admitting that …

Rahul calls electoral bonds world’s biggest ‘extortion scheme’, attacks Modi
8 months, 1 week ago

Rahul calls electoral bonds world’s biggest ‘extortion scheme’, attacks Modi

Hindustan Times  

Member of Parliament Rahul Gandhi on Wednesday called the now-scrapped electoral bonds the world’s biggest “extortion scheme” and Prime Minister Narendra Modi a “champion of corruption” as the Congress leader addressed a press conference with Samajwadi Party chief Akhilesh Yadav in Ghaziabad, which is due to go to the polls on April 26 in the second phase of national polls. …

​Pandora’s box: The Hindu Editorial on the electoral bonds scheme, emerging details
8 months, 1 week ago

​Pandora’s box: The Hindu Editorial on the electoral bonds scheme, emerging details

The Hindu  

In the last month or so, ever since the State Bank of India was compelled by the Supreme Court of India to release information on donations via electoral bonds to political parties, emerging details have only confirmed the worst fears of naysayers in regulatory and policy-making institutions about the scheme before it was introduced by the Bharatiya Janata Party -led …

Bonds, big money and an imperfect democracy
8 months, 3 weeks ago

Bonds, big money and an imperfect democracy

The Hindu  

The electoral bonds scheme that has been declared unconstitutional by the Supreme Court of India, was supposed to end the financing of elections with black money. In effect, the electoral bonds scheme was only an additional avenue for funds that political parties received. Cronyism uncovered Even though the electoral bonds formed a fraction of the total funding requirement of political …

Sordid scheme: The Hindu Editorial on the electoral bond scheme, electoral financing
8 months, 4 weeks ago

Sordid scheme: The Hindu Editorial on the electoral bond scheme, electoral financing

The Hindu  

Following the Supreme Court of India-ordered release of the final tranche of data from the State Bank of India, it has now been possible to get a nearly complete picture of electoral financing, which was once an opaque route. The SBI had to release data of the unique numbers for electoral bonds purchased by corporate and individual donors and later …

Satire | Bias against electoral bonds
9 months ago

Satire | Bias against electoral bonds

The Hindu  

The electoral bond, like yoga and zero, is one of the great innovations of Indic genius — it’s our gift to human civilisation. As the cop gaped at him, Wife quipped from the backseat, “Don’t let him leave India until he buys electoral bonds.” “Both of you, stop it!” I said. Seriously, it’s appalling to find all kinds of busybodies …

'Ask Rahul Gandhi to Explain Rs 1,600 Cr Hafta Vasooli': Amit Shah Tears Into INDIA Bloc over Electoral Bonds
9 months ago

'Ask Rahul Gandhi to Explain Rs 1,600 Cr Hafta Vasooli': Amit Shah Tears Into INDIA Bloc over Electoral Bonds

News 18  

Union Home Minister Amit Shah is of the opinion that the Supreme Court’s decision to strike down electoral bonds will bring back the reign of black money in politics. Speaking at CNN-News18’s Rising Bharat Summit, Shah said: “The Supreme Court’s decision is binding on all citizens and I respect their verdict on electoral bonds. This is why the entire INDIA …

Mother of Democracy? Electoral Bonds are the Annihilation of Democratic Values
9 months ago

Mother of Democracy? Electoral Bonds are the Annihilation of Democratic Values

The Quint  

Fresh data on the purchase patterns of electoral bonds emerged over the weekend. According to an investigation by The Quint, “The new figures revealed that the Bharatiya Janata Party received Rs 2,658.35 crore in electoral bonds between 9 March 2018 and 11 April 2019. The Congress party received Rs 530.1 crore, Trinamool Congress got Rs 97.28 crore, and the Biju …

ECI uploads more data on bonds till November 2023
9 months ago

ECI uploads more data on bonds till November 2023

Hindustan Times  

The Election Commission of India on Sunday uploaded all electoral bond-related documents that it received from political parties in 2019 and November 2023 in sealed covers, which it had subsequently submitted to the Supreme Court. Between April 12, 2019 and February 15, 2024, VM Salgaocar and Brother bought bonds worth ₹1.5 crore while an associated company, VM Salgaocar Corporation Private …

Electoral bonds: A key poll plank for anti-BJP forces
9 months ago

Electoral bonds: A key poll plank for anti-BJP forces

Hindustan Times  

The disclosure about the Bharatiya Janata Party’s earnings from electoral bonds is expected to fuel the opposition’s narrative against the ruling party and will be a key bone of contention in the upcoming Lok Sabha elections, scheduled to begin from April 19. Following the disclosures, BJP spokesperson RP Singh said, of the ₹20,000 crore-odd electoral bonds, only ₹6,000 crore has …

Bonded favours: The Hindu Editorial on the electoral bond scheme, sordid revelations
9 months ago

Bonded favours: The Hindu Editorial on the electoral bond scheme, sordid revelations

The Hindu  

Sordid revelations that keep pouring from the disclosure of details about the purchasers and recipients of electoral bonds confirm the early apprehension of sceptics that the anonymous political funding scheme will have undesirable consequences. Ranging from likely quid pro quo deals to flagrant proximity between companies being investigated by central agencies and the purchase of electoral bonds worth hundreds of …

Conflict of interest is built into the idea of electoral bonds
9 months, 1 week ago

Conflict of interest is built into the idea of electoral bonds

Hindustan Times  

“Martin, who” did you say? Electoral bonds were meant to mark the end of the suitcase-era of political funding — days when cash was stuffed into attache cases and handed over and under tables. And because no one really wants to have this unsexy conversation, it’s much easier to indulge in competitive political outrage over electoral bonds and watch the …

Electoral bonds data: BJP received Rs 6,060 crore, highest among all parties
9 months, 1 week ago

Electoral bonds data: BJP received Rs 6,060 crore, highest among all parties

The Hindu  

March 14, 2024 10:18 pm | Updated March 21, 2024 09:02 pm IST The Bharatiya Janata Party encashed electoral bonds worth ₹6060.5 crore — the highest among all parties — between April 12, 2019 and January 24, 2024. The All India Trinamool Congress received ₹1,609.50 crore via this route followed by the Congress ₹1,421.9 crore, the second and third biggest …

Explainer | Ctrl + Delete: Electoral Bonds
9 months, 4 weeks ago

Explainer | Ctrl + Delete: Electoral Bonds

New Indian Express  

"Political contributions give a seat at the table to the contributor. This access also translates into influence over policy-making,” said Supreme Court Chief Justice D Y Chandrachud while declaring the electoral bond scheme illegal in a landmark judgment on February 15. The CJI’s sharp words underscore the notion of the unholy nexus between money power and political parties, and how …

Making sense of electoral bond judgment through data
10 months ago

Making sense of electoral bond judgment through data

The Hindu  

Last week, the Supreme Court ruled the electoral bonds Scheme unconstitutional, saying that the anonymous influx of funding to political parties, especially from corporations, hinders democratic legitimacy. In Justice Sanjiv Khanna’s opinion, “access to information which can materially shape the citizens’ choice is necessary for them to have a say in how their lives are affected.” This meant Solicitor General …

A Fillip To Democracy : Supreme Court's Electoral Bonds Case Verdict
10 months ago

A Fillip To Democracy : Supreme Court's Electoral Bonds Case Verdict

Live Law  

On Thursday, the Supreme Court of India gave a much needed fillip to our democracy. Through these amendments, Parliament introduced a new arrangement for financial contributions to political parties, the “Electoral Bond Scheme.” The law now allowed an individual or any “artificial juridical person,” including corporations, to buy bonds issued by the State Bank of India during stipulated periods of …

SC Scraps Electoral Bonds Scheme, but Only After Netas Pocketed Rs 16,000 Crores
10 months, 1 week ago

SC Scraps Electoral Bonds Scheme, but Only After Netas Pocketed Rs 16,000 Crores

The Quint  

That’s the amount of money that political parties across the spectrum have pocketed under the secretive electoral bonds scheme since 2018, while petitions languished in the Supreme Court. Party-wise figures available till the end of the financial year 2022-23 show that of the Rs 12,000 crores coming in via the scheme since its inception, over Rs 6,500 crores went to …

Ban on India’s electoral bonds: How will it affect 2024 election?
10 months, 1 week ago

Ban on India’s electoral bonds: How will it affect 2024 election?

Al Jazeera  

While transparency advocates and opposition leaders say ban is a big win for democracy, Modi’s BJP dominates other political funding and remains confident ahead of national elections. Opposition leaders say the judgement represents a setback for Prime Minister Narendra Modi’s ruling Bharatiya Janata Party, whose government introduced the electoral bonds scheme seven years ago and which battled long and hard …

SC's electoral bonds scheme verdict: How BJP stands to lose the most?
10 months, 1 week ago

SC's electoral bonds scheme verdict: How BJP stands to lose the most?

Hindustan Times  

The Supreme Court, in a landmark judgment on Thursday, delivered a big setback to the Bharatiya Janata Party-led government and annulled the electoral bonds scheme for political funding, saying it violates the Constitutional right to freedom of speech and expression as well as the right to information. All political parties put together received over ₹12,000 crore till last fiscal since …

Electoral Bond Scheme: As SC judgment awaits; a look at BJP vs Congress share
10 months, 1 week ago

Electoral Bond Scheme: As SC judgment awaits; a look at BJP vs Congress share

Live Mint  

The Supreme Court is scheduled to pronounce its verdict on Thursday on a batch of petitions challenging the validity of the Electoral Bond scheme, which allows for anonymous funding to political parties. In July last year, the ADR data had revealed that more than half of all donations made to political parties between 2016-17 and 2021-22 were through electoral bonds …

What are electoral bonds? Did they give BJP an unfair advantage?
10 months, 1 week ago

What are electoral bonds? Did they give BJP an unfair advantage?

Hindustan Times  

Electoral bonds, the scheme introduced by the NDA government in 2018 allowing anonymous funding to political parties, was struck down by the Supreme Court on Thursday. According to the provisions of the scheme, only the political parties registered under Section 29A of the Representation of the People Act, 1951 and which secured not less than 1 per cent of the …

India’s Supreme Court scraps electoral bonds, calls them ‘unconstitutional’
10 months, 1 week ago

India’s Supreme Court scraps electoral bonds, calls them ‘unconstitutional’

Al Jazeera  

Election funding system was challenged by the opposition and activists on grounds that it hindered people’s right to know who gives money to parties. India’s Supreme Court has scrapped a seven-year-old election funding system, called “electoral bonds”, that allows individuals and companies to donate money to political parties anonymously and without any limits. The secretive election funding system was challenged …

What are India’s electoral bonds, the secret donations powering Modi’s BJP?
10 months, 1 week ago

What are India’s electoral bonds, the secret donations powering Modi’s BJP?

Al Jazeera  

India’s Supreme Court on Thursday banned electoral bonds, a mysterious source of funding for elections that has generated hundreds of millions of dollars in revenues for political parties, especially the governing Bharatiya Janata Party. Furthermore, in 2017, India’s central bank, the Reserve Bank of India, cautioned the Modi government that the bonds could be misused by shell companies to “facilitate …

Challenging the Electoral Bond Scheme
1 year, 1 month ago

Challenging the Electoral Bond Scheme

The Hindu  

Political parties in India have traditionally been averse to any sort of public scrutiny of the sources and applications of their funds. By relieving the political parties of the duty to disclose the particulars of their donors, the amendments eroded the ECI’s constitutional role and deprived citizens of vital information concerning electoral funding. The ADR’s research has shown that electoral …

Aakar Patel | It's time to end the anonymous funding of all Indian elections
1 year, 1 month ago

Aakar Patel | It's time to end the anonymous funding of all Indian elections

Deccan Chronicle  

The Supreme Court has finished hearing arguments on electoral bonds and will hopefully deliver a judgment soon. The scheme also allows anyone, including foreign governments, criminal gangs and of course corporate interests, the ability to influence political parties because parties could accept money without revealing who gave it. “The bonds are bearer bonds and transferable by delivery”, the RBI said, …

Decoding the Opposition to Electoral Bonds & How Centre is Defending Its Scheme - News18
1 year, 1 month ago

Decoding the Opposition to Electoral Bonds & How Centre is Defending Its Scheme - News18

News 18  

The Supreme Court reserved its verdict on the challenge to the present electoral bonds scheme after hearing the matter at length. The notifications derived their power and authority from the four amendments brought in by the Finance Act of 2017 and passed in one go as ‘money bill’, overhauling political party funding in India. A political party that has secured …

Electoral bonds fail to provide a level playing field: Supreme court
1 year, 1 month ago

Electoral bonds fail to provide a level playing field: Supreme court

Hindustan Times  

The Supreme Court on Wednesday asked the Union government if electoral bonds for political funding “legalise kickbacks” to political parties, and observed that the scheme not only seemed to create an “information hole” by perpetuating “selective anonymity” of the donors but also failed to provide a level playing field. The five-judge Constitution bench, led by Chief Justice of India Dhananjaya …

Electoral bonds compromise people's right to be informed: Supreme Court told
1 year, 1 month ago

Electoral bonds compromise people's right to be informed: Supreme Court told

India Today  

A five-judge Constitution Bench of the Supreme Court, presided by Chief Justice of India DY Chandrachud, began hearing the batch of petitions challenging the validity of the electoral bonds scheme months ahead of Assembly elections in 5 states and Lok Sabha polls next year. On Day 1 of the hearing, petitioners conveyed their concerns to the bench, asserting that electoral …

Data | Unknown sources of political income spiked after electoral bond entry, BJP cornered lion’s share
2 years, 1 month ago

Data | Unknown sources of political income spiked after electoral bond entry, BJP cornered lion’s share

The Hindu  

Two developments have put the spotlight again on the controversial electoral bond scheme. However, data analysed from the Association of Democratic Reforms’ annual reports reveal that the share of “unknown sources of income” has increased following the introduction of electoral bonds, achieving the opposite of what it was intended to do. The unknown sources include donations below ₹20,000 via electoral …

Electoral bonds scheme: Supreme Court says it will take up matter
2 years, 8 months ago

Electoral bonds scheme: Supreme Court says it will take up matter

The Hindu  

Chief Justice of India N.V. Ramana on Tuesday told advocate Prashant Bhushan that the court wanted to take up earlier a long-pending challenge against the government’s electoral bonds scheme, but the COVID-19 pandemic played spoilsport. The electoral bonds scheme and amendments in the Finance Act of 2017 allows for “unlimited donations from individuals and foreign companies to political parties without …

Opacity rules: The Hindu Editorial on how electoral bonds undermines voters’ right to know about political funding
3 years, 8 months ago

Opacity rules: The Hindu Editorial on how electoral bonds undermines voters’ right to know about political funding

The Hindu  

The reasons given by the Supreme Court for not staying the issuance of electoral bonds are unconvincing. A Bench headed by the Chief Justice of India, Justice S.A. Bobde, has said there is no justification for staying the scheme as electoral bonds have been released in 2018, 2019 and 2020 without any legal impediment; and that “certain safeguards” have been …

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