Electoral bond sales to open again on November 6
1 year, 1 month ago

Electoral bond sales to open again on November 6

The Hindu  

With five State assemblies going to polls, the Finance Ministry on November 4 announced a fresh tranche of electoral bond sales over the fortnight from November 6 to November 20, the second window for these bonds’ sales within a month. The upcoming 29th tranche of electoral bond sales since the scheme’s launch in January 2018 to “cleanse the system of political funding” in the country, follows a 10-day window for selling these bonds that closed on October 13. The original scheme envisaged sales of electoral bonds for 10 days each in January, April, July and October every year, and a thirty-day period during the year of the Lok Sabha polls. The legality of the electoral bonds scheme | Explained Last year, the government expanded its ambit to grant itself the power to announce an extra fortnight of electoral bond sales in years where States and Union Territories with legislatures have elections.

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History of this topic

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 …

ECI uploads more data on bonds till November 2023
9 months, 1 week 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 …

Biggest purchaser of Electoral bonds is a Lottery firm, EC reveals in fresh details
9 months, 1 week ago

Biggest purchaser of Electoral bonds is a Lottery firm, EC reveals in fresh details

Firstpost  

Providing details after April 12, 2019, the EC’s report revealed that the Bharatiya Janata Party emerged as the largest beneficiary of the electoral bonds scheme, receiving Rs 6,061 crore in political donations over the last five years The Election Commission of India has disclosed additional details regarding electoral bonds, including the amount redeemed per political party on March 17. Political …

Election Commission makes public new electoral bonds data
9 months, 1 week ago

Election Commission makes public new electoral bonds data

Hindustan Times  

The Election Commission released new data regarding electoral bonds purchased by individuals and redeemed by political parties on its website on Sunday. The Election Commission had previously submitted data on electoral bonds purchased in a sealed cover to the Supreme Court on April 12, 2019. Key takeaways from ECI electoral bonds data • The Bharatiya Janata Party encashed electoral bonds …

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 …

Electoral bonds case: 5 things SBI said in its compliance affidavit to Supreme Court
9 months, 1 week ago

Electoral bonds case: 5 things SBI said in its compliance affidavit to Supreme Court

Hindustan Times  

The State Bank of India on Tuesday had shared all details of electoral bonds with the Election Commission, which is set to publish them anytime before March 15, i.e Friday. On Wednesday, India's biggest public lender submitted a compliance affidavit before the apex court, sharing details of the bonds purchased and redeemed between April 1, 2019 and February 15 this …

Electoral Bonds Case: SBI files compliance affidavit in SC after sending electoral bonds details to EC
9 months, 1 week ago

Electoral Bonds Case: SBI files compliance affidavit in SC after sending electoral bonds details to EC

The Hindu  

The State Bank of India on March 13 informed the Supreme Court that details of electoral bonds anonymously purchased by contributors and encashed by political parties between April 2019 and February 15, 2024 were hand-delivered to the Election Commission of India in order to facilitate public disclosure of political funding. The SBI said a total of 22,217 electoral bonds were …

SBI sends electoral bonds details to Election Commission
9 months, 1 week ago

SBI sends electoral bonds details to Election Commission

The Hindu  

A day after the Supreme Court directive, the State Bank of India on March 12 submitted to the Election Commission of India the details of electoral bonds purchased and encashed since April 12, 2019. “In compliance of the Hon’ble Supreme Court’s directions to the SBI, contained in its order dated Feb 15 and March 11, 2024, data on electoral bonds …

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 …

Since 2018, BJP got 54.8% of electoral bonds encashed: Data
10 months, 1 week ago

Since 2018, BJP got 54.8% of electoral bonds encashed: Data

Hindustan Times  

In 25 phases between March 2018 and March 2023, electoral bonds worth ₹11,984.91 crore were encashed with the Bharatiya Janata Party receiving 54.8%, or ₹6,566.12 crore, according to data furnished by political parties to the Election Commission of India and phase-wise data collated by the Association for Democratic Reforms. Of this, 219 bonds worth nearly ₹26 crore have not been …

Electoral bonds scheme 'unconstitutional’: Supreme Court strikes down poll funding system
10 months, 1 week ago

Electoral bonds scheme 'unconstitutional’: Supreme Court strikes down poll funding system

Hindustan Times  

In a landmark verdict, the Supreme Court on Thursday said the electoral bonds scheme has to be struck down as “unconstitutional”. The SBI shall submit details of electoral bonds purchased since April 12, 2019, to date to the Election Commission, the Supreme Court said. "In a very significant judgment which will have a long-term effect on our electoral democracy, the …

Government kicks off New Year with fresh electoral bond sales from January 2
11 months, 3 weeks ago

Government kicks off New Year with fresh electoral bond sales from January 2

The Hindu  

The government has announced a fresh tranche of electoral bond sales for a 10-day period starting on January 2 through the authorised branches of State Bank of India across the country. The government had notified November’s bond sales days after the apex court reserved its judgment on the scheme’s validity and sought updated data from the Election Commission on the …

Political parties send details of electoral bonds to Election Commission
1 year, 1 month ago

Political parties send details of electoral bonds to Election Commission

Hindustan Times  

Several political parties on Wednesday submitted to the Election Commission details of electoral bonds received and encashedby them since the poll funding mechanism was first issued in 2018, officials aware of developments said. The BJP, people aware of the matter said, sent year-wise details of the electoral bonds it received and encashed between March 2018 and until September 30, 2023. …

EC asks political parties to submit electoral bonds data by November 15
1 year, 1 month ago

EC asks political parties to submit electoral bonds data by November 15

Hindustan Times  

The Election Commission of India has reminded all political parties to submit details of donations received by them through electoral bonds by 5pm on November 15. The apex court had directed the ECI to submit details of all electoral bonds issued since the inception of the scheme by November 19 in a sealed packet. In line with an April 2019 …

29th tranche of electoral bonds sale kicks off today
1 year, 1 month ago

29th tranche of electoral bonds sale kicks off today

Live Mint  

The 29th tranche of electoral bonds was issued on Tuesday in anticipation of the upcoming assembly elections in five states. "Government of India has authorised State Bank of India, in the XXIX Phase of sale, to issue and encash Electoral Bonds through its 29 Authorised Branches w.e.f. Electoral bonds can be redeemed exclusively by an eligible political party through an …

Mint Explainer: Demystifying the electoral bonds scheme
1 year, 2 months ago

Mint Explainer: Demystifying the electoral bonds scheme

Live Mint  

New Delhi: In a significant development, the Supreme Court on Monday constituted a five-judge bench to deliberate on the case pertaining to the highly debated electoral bonds scheme. The lack of consultation with these critical institutions has raised transparency and accountability concerns in the electoral bonds scheme. The Supreme Court's decision to review the electoral bonds scheme just ahead of …

Electoral bond pleas to be heard on Oct 31
1 year, 2 months ago

Electoral bond pleas to be heard on Oct 31

Hindustan Times  

After a gap of more than two years, the Supreme Court on Tuesday fixed October 31 and November 1 to finally hear a clutch of petitions that have challenged the validity of the central government’s electoral bonds scheme as a source of political funding. The bench, which also included justices JB Pardiwala and Manoj Misra, said the issue of whether …

Electoral bonds to go on sale from October 4
1 year, 2 months ago

Electoral bonds to go on sale from October 4

The Hindu  

The government on September 29 announced the 28th tranche of electoral bond sales to be undertaken over a ten-day window starting October 4 and closing on October 13, at all authorised branches of the State Bank of India. While the move comes ahead of upcoming assembly elections in a few States, a ten-day sale window in October is part of …

Government approves 27th tranche of electoral bonds; sale from July 3
1 year, 5 months ago

Government approves 27th tranche of electoral bonds; sale from July 3

The Hindu  

The government on June 30 approved the issuance of the 27th tranche of electoral bonds that will open for sale on July 3. Electoral bonds have been pitched as an alternative to cash donations made to political parties as part of efforts to bring transparency to political funding. State Bank of India, in the 27th phase of sale, has been …

SC to hear if pleas challenging electoral bond can be referred to constitution bench
1 year, 9 months ago

SC to hear if pleas challenging electoral bond can be referred to constitution bench

Deccan Chronicle  

New Delhi: The Supreme Court on Tuesday said it will consider whether the pleas challenging the validity of the electoral bond scheme for political funding of parties can be referred to a constitutional bench for an "authoritative pronouncement". The top court's observations to decide whether the pleas can be referred to a constitution bench assume significance in the wake of …

Validity of electoral bonds scheme | Supreme Court fixes April 11 to examine whether petitions need to be referred to Constitution Bench
1 year, 9 months ago

Validity of electoral bonds scheme | Supreme Court fixes April 11 to examine whether petitions need to be referred to Constitution Bench

The Hindu  

The Supreme Court on March 21 fixed April 11 to examine whether petitions challenging the validity of electoral bonds scheme need to be referred to a Constitution Bench. Explained | The electoral bonds scheme and the challenges to it in Supreme Court Mr. Farasat argued that the issue of election bonds raised cardinal and substantial questions of law affecting fair …

Validity of electoral bonds scheme | Supreme Court to examine on January 31 whether petitions need to be referred to Constitution Bench
1 year, 10 months ago

Validity of electoral bonds scheme | Supreme Court to examine on January 31 whether petitions need to be referred to Constitution Bench

The Hindu  

The Supreme Court is on January 31 scheduled to examine whether petitions challenging the validity of electoral bonds scheme need to be referred to a Constitution Bench. Advocate Prashant Bhushan, appearing for petitioner NGO Association for Democratic Reforms, has argued that amendments made via Finance Acts of 2016 and 2017, both passed as Money Bills, have through the electoral bonds …

Electoral Bonds - Finance Ministry Allowed Additional Sale Window Overruling Objections By Certain Officials : ADR Tells Supreme Court
2 years ago

Electoral Bonds - Finance Ministry Allowed Additional Sale Window Overruling Objections By Certain Officials : ADR Tells Supreme Court

Live Law  

The Centre's recent notification amending the Electoral Bonds Scheme to allow an additional window of 15 days for the sale of the bonds was issued overruling the objections raised by certain officials of the Ministry of Finance and Ministry of Law & Justice, stated the NGO Association for Democratic Reforms in a supplementary affidavit filed before the Supreme Court.On November …

Sale of first tranche of electoral bonds was illegal as per RTI replies, says activist
2 years, 1 month ago

Sale of first tranche of electoral bonds was illegal as per RTI replies, says activist

The Hindu  

The recent amendment to the Electoral Bond Scheme, 2018, was conceived nearly 20 months ago in March 2021 and the sale of the first tranche of electoral bonds was “illegal” according to Right to Information replies on the matter received by transparency activist Commodore Lokesh Batra. On the basis of RTI replies received by him from the Ministry of Finance …

Electoral bonds worth ₹10,246 crore sold in 21 tranches so far
2 years, 1 month ago

Electoral bonds worth ₹10,246 crore sold in 21 tranches so far

The Hindu  

Electoral bonds worth ₹10,246 crore have been sold by the State Bank of India since the instrument was launched in March 2018. Electoral bonds have been pitched as an alternative to cash donations made to political parties as part of efforts to bring transparency to political funding. The SBI has been authorised to issue and encash electoral bonds through 29 …

Electoral bonds to be issued, encashed at 29 SBI branches from Nov 9 to 15: Govt
2 years, 1 month ago

Electoral bonds to be issued, encashed at 29 SBI branches from Nov 9 to 15: Govt

Hindustan Times  

The union finance ministry authorised the issue and encashment of electoral bonds through a total of 29 branches of the State Bank of India from November 9 to 15. This comes in addition to the government’s provision to widen the buying window of electoral bonds by 15 extra days in the year of respective assembly elections. “State Bank of India, …

Electoral bonds can be sold for 15 extra days during state elections
2 years, 1 month ago

Electoral bonds can be sold for 15 extra days during state elections

Hindustan Times  

The department of economic affairs on Monday amended the electoral bonds scheme to allow their sale for 15 extra days during the “year of general elections to the legislative assembly of states and Union territories with legislature”. Sold four times a year for 10 days as notified by the government, electoral bonds allow political parties to accept money from donors …

Centre amends Electoral Bond scheme to open a fresh one-week window for sales of such bonds starting November 9
2 years, 1 month ago

Centre amends Electoral Bond scheme to open a fresh one-week window for sales of such bonds starting November 9

The Hindu  

Weeks ahead of the Gujarat and Himachal Pradesh polls, the Centre on November 7, 2022 amended the Electoral Bond Scheme to grant itself the power to spell out an extra fortnight of electoral bond sales in years when States and Union Territories with a legislature have polls, and used the power to open a fresh one-week window for issuing such …

Electoral bonds worth ₹545 crore sold ahead of Himachal, Gujarat polls
2 years, 1 month ago

Electoral bonds worth ₹545 crore sold ahead of Himachal, Gujarat polls

Hindustan Times  

New Delhi Electoral bonds worth ₹545.25 crore have been sold between October 1 and 10, with the Bharatiya Janata Party getting the bulk of the contributions, data acquired under the Right to Information Act has shown. Electoral bonds worth ₹ 545 crore sold ahead of Himachal, Gujarat polls Electoral bonds have been pitched as an alternative to cash donations made …

Electoral Bonds: What Is It, How To Buy?
2 years, 5 months ago

Electoral Bonds: What Is It, How To Buy?

News 18  

The government has approved the issuance of the 21st tranche of electoral bonds, which will open for sale from July 1. Electoral bonds have been pitched as an alternative to cash donations made to political parties as part of efforts to bring transparency in the political funding. Only the political parties registered under Section 29A of the Representation of the …

SBI To Issue Electoral Bonds At 29 Branches From July 1; Check Details
2 years, 5 months ago

SBI To Issue Electoral Bonds At 29 Branches From July 1; Check Details

News 18  

The finance ministry on Thursday said State Bank of India, in the 21st phase of sale, is going to issue electoral bonds through its 29 authorised branches across India between July 1 and July 10. The electoral bonds will be encashed by an eligible political party only through a bank account with the authorised bank. In simple terms, whoever wants …

In April, most electoral bonds encashed in Hyderabad
2 years, 7 months ago

In April, most electoral bonds encashed in Hyderabad

The Hindu  

A Right to Information reply this week showed that the majority of electoral bonds sold in April were encashed in Hyderabad, at a time when speculation of early elections to the Telangana Assembly was rife. In response to a query by RTI activist Kanhaiya Kumar, State Bank of India on Thursday said electoral bonds worth ₹648 crore were sold in …

​10-Day Sale of 16th Tranche of Electoral Bonds Begins Today, Check Details Here
3 years, 8 months ago

​10-Day Sale of 16th Tranche of Electoral Bonds Begins Today, Check Details Here

News 18  

From Thursday, April 1, the 16th tranche of electoral bonds will be open for sale. The Finance Ministry in its statement said that “The State Bank of India, in the XVI Phase of sale, has been authorized to issue and encash electoral bonds through its 29 authorized branches with effect from 01.04.2021 to 10.04.2021.” The 29 specified SBI branches are …

Supreme Court dismisses petition filed against sale of electoral bonds
3 years, 8 months ago

Supreme Court dismisses petition filed against sale of electoral bonds

Op India  

The Supreme Court on Friday dismissed an application that had sought a stay on the sale of Electoral Bonds ahead of the upcoming State Assembly elections in West Bengal, Assam, Kerala, Tamil Nadu and Puducherry. A Supreme Court bench comprising of Chief Justice of India SA Bobde, Justice AS Bopanna and Justice V Ramasubramanian refused to stay the release of …

Electoral Bonds Can be Issued from April 1, Says SC. Here's All You Need to Know
3 years, 8 months ago

Electoral Bonds Can be Issued from April 1, Says SC. Here's All You Need to Know

News 18  

The Supreme Court on Friday said that fresh electoral bonds can be issued from April 1. Electoral Bonds are interest-free bearer instruments that are used to donate money anonymously to political parties. A total of 12,924 electoral bonds worth Rs 6534.78 crore have been sold in 15 phases between March 2018 to January 2021. As per the notification, individuals, groups …

Plea to stop sale of poll bonds ahead of Assembly elections
3 years, 9 months ago

Plea to stop sale of poll bonds ahead of Assembly elections

The Hindu  

An NGO, Association for Democratic Reforms, represented by advocate Prashant Bhushan, has moved an urgent application in the Supreme Court to stop any move to sell electoral bonds prior to the forthcoming Assembly elections in crucial States like West Bengal and Tamil Nadu. The NGO, also represented by advocate Neha Rathi, voiced serious apprehensions that sale of electoral bonds before …

Plea In Supreme Court For Urgent Hearing Of PIL Against Electoral Bonds Scheme Amidst Bihar Elections
4 years, 1 month ago

Plea In Supreme Court For Urgent Hearing Of PIL Against Electoral Bonds Scheme Amidst Bihar Elections

Live Law  

The Association for Democratic Reforms has filed an urgent application before the Supreme Court seeking urgent hearing of the PIL on the issue of Electoral Bonds, on account of opening of the sale window of EBs, right before the Bihar Elections. Significantly, the State Bank of India, in the XIV Phase of sale, has been authorized to issue and encash …

Centre Announces Clean-up of Political Funding System with Electoral Bonds
6 years, 11 months ago

Centre Announces Clean-up of Political Funding System with Electoral Bonds

Live Law  

The Centre has notified the Electoral Bond Scheme to cleanse the political funding system in the country. The scheme, which was announced in the Budget speech in February 2018, will allow individuals and entities to purchase electoral bonds in the denominations of Rs. 1000, Rs. 10,000, Rs. 1,00,000, Rs. 10,00,000 and Rs. 1,00,000,000. These bonds will be available for purchase …

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