Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 150
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Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 151
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 97
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

                trigger_error($message, E_USER_WARNING);

            } else {
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        LATEST NEWS UPDATES | Are electoral bonds an elaborate ruse to protect anonymous donations? -Suchindran B N &amp; Param Pandya    </title>
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-The Economic Times blog

Electoral bonds represent the latest attempt at removing black money from the electoral system. It is a financial instrument, much like a demand draft or currency note, which will conceal the identity of the donor from the..."/>
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Electoral bonds represent the latest attempt at removing black money from the electoral system. It is a financial instrument, much like a demand draft or currency note, which will conceal the identity of the donor from the..." />
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                            <div align="justify">-The Economic Times blog<br /><br />Electoral bonds represent the latest attempt at removing black money from the electoral system. It is a financial instrument, much like a demand draft or currency note, which will conceal the identity of the donor from the intended recipient political party from everyone except the issuing bank.<br /><br />These bonds can be purchased for any value, in multiples of Rs 1,000, Rs 10,000, Rs 1,00,000, Rs 10,00,000 and Rs 1,00,00,000 from the specified branches of the State Bank of India. The bonds will have a 15-day validity that will ensure that they don&rsquo;t become a safe haven or a parallel currency.<br /><br />It seeks to address the reprisals that many donors fear or face. Significantly, the scheme, as per the Press Information Bureau (PIB) press release made public on Tuesday, would not be available to new political parties, since it is necessary that a party should have obtained at least 1% votes polled in the last election contested.<br /><em><br />A Party for Bond</em><br /><br />Also, it stated that the bonds can only be encashed into designated and registered bank accounts of those political parties that qualify for the scheme.<br /><br />It&rsquo;s a view of sorts.So, both political parties and donors will be required to comply with &lsquo;Know Your Customer&rsquo; (KYC) norms.<br /><br />These bonds will be available for purchase for 10 days each in January, April, July and October. An additional period of 30 days may be specified by GoI in a Lok Sabha election year.<br /><br />A report by the Association for Democratic Reforms (ADR) states that funding to national and regional political parties from 2004-05 to 2014-15 has largely remained opaque. About 69% of the donations received by these parties amounting to Rs 7,832.98 crore were from unknown sources. Another ADR report reveals that 30.71% of the income of national parties in 2015-16 was from unknown sources. These data suggest that black money is channelled into parties in return for political patronage.<br /><br />GoI believes that the introduction of electoral bonds is a second step towards eliminating black money in India&rsquo;s electoral funding, the first being the reduction of limit for cash donation from Rs 20,000 to Rs 2,000. Both these reforms were first spoken about by finance minister Arun Jaitley in his Budget speech last year.<br /><br />The very basis for electoral bonds, though, is a matter of doubt. Both the 255th Law Commission of India Report on Electoral Reforms and the report on Proposed Electoral Reforms by the Election Commission (EC) do not mention electoral bonds or anything similar as a weapon to fight black money in political parties&rsquo; financing. As per an RTI reply, the Reserve Bank of India, the EC or the finance ministry did not have any information about who suggested electoral bonds for political funding in India.<br /><br />Please <a href="https://blogs.economictimes.indiatimes.com/et-commentary/is-electoral-bonds-scheme-an-elaborate-ruse-to-protect-anonymous-donations/" title="https://blogs.economictimes.indiatimes.com/et-commentary/is-electoral-bonds-scheme-an-elaborate-ruse-to-protect-anonymous-donations/">click here</a> to read more. <br /></div>                                                           
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    <br><a href="https://blogs.economictimes.indiatimes.com/et-commentary/is-electoral-bonds-scheme-an-elaborate-ruse-to-protect-anonymous-donations/" class="re" target="_blank">The Economic Times, 4 January, 2018, https://blogs.economictimes.indiatimes.com/et-commentary/is-electoral-bonds-scheme-an-elaborate-ruse-to-protect-anonymous-donations/</a><div class="clear"></div>
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Electoral bonds represent the latest attempt at removing black money from the electoral system. It is a financial instrument, much like a demand draft or currency note, which will conceal the identity of the donor from the..."/>
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    <h1 class="cat-box-title">Are electoral bonds an elaborate ruse to protect anonymous donations? -Suchindran B N &amp; Param Pandya</h1>
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                            <div align="justify">-The Economic Times blog<br /><br />Electoral bonds represent the latest attempt at removing black money from the electoral system. It is a financial instrument, much like a demand draft or currency note, which will conceal the identity of the donor from the intended recipient political party from everyone except the issuing bank.<br /><br />These bonds can be purchased for any value, in multiples of Rs 1,000, Rs 10,000, Rs 1,00,000, Rs 10,00,000 and Rs 1,00,00,000 from the specified branches of the State Bank of India. The bonds will have a 15-day validity that will ensure that they don&rsquo;t become a safe haven or a parallel currency.<br /><br />It seeks to address the reprisals that many donors fear or face. Significantly, the scheme, as per the Press Information Bureau (PIB) press release made public on Tuesday, would not be available to new political parties, since it is necessary that a party should have obtained at least 1% votes polled in the last election contested.<br /><em><br />A Party for Bond</em><br /><br />Also, it stated that the bonds can only be encashed into designated and registered bank accounts of those political parties that qualify for the scheme.<br /><br />It&rsquo;s a view of sorts.So, both political parties and donors will be required to comply with &lsquo;Know Your Customer&rsquo; (KYC) norms.<br /><br />These bonds will be available for purchase for 10 days each in January, April, July and October. An additional period of 30 days may be specified by GoI in a Lok Sabha election year.<br /><br />A report by the Association for Democratic Reforms (ADR) states that funding to national and regional political parties from 2004-05 to 2014-15 has largely remained opaque. About 69% of the donations received by these parties amounting to Rs 7,832.98 crore were from unknown sources. Another ADR report reveals that 30.71% of the income of national parties in 2015-16 was from unknown sources. These data suggest that black money is channelled into parties in return for political patronage.<br /><br />GoI believes that the introduction of electoral bonds is a second step towards eliminating black money in India&rsquo;s electoral funding, the first being the reduction of limit for cash donation from Rs 20,000 to Rs 2,000. Both these reforms were first spoken about by finance minister Arun Jaitley in his Budget speech last year.<br /><br />The very basis for electoral bonds, though, is a matter of doubt. Both the 255th Law Commission of India Report on Electoral Reforms and the report on Proposed Electoral Reforms by the Election Commission (EC) do not mention electoral bonds or anything similar as a weapon to fight black money in political parties&rsquo; financing. As per an RTI reply, the Reserve Bank of India, the EC or the finance ministry did not have any information about who suggested electoral bonds for political funding in India.<br /><br />Please <a href="https://blogs.economictimes.indiatimes.com/et-commentary/is-electoral-bonds-scheme-an-elaborate-ruse-to-protect-anonymous-donations/" title="https://blogs.economictimes.indiatimes.com/et-commentary/is-electoral-bonds-scheme-an-elaborate-ruse-to-protect-anonymous-donations/">click here</a> to read more. <br /></div>                                                           
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    <br><a href="https://blogs.economictimes.indiatimes.com/et-commentary/is-electoral-bonds-scheme-an-elaborate-ruse-to-protect-anonymous-donations/" class="re" target="_blank">The Economic Times, 4 January, 2018, https://blogs.economictimes.indiatimes.com/et-commentary/is-electoral-bonds-scheme-an-elaborate-ruse-to-protect-anonymous-donations/</a><div class="clear"></div>
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        LATEST NEWS UPDATES | Are electoral bonds an elaborate ruse to protect anonymous donations? -Suchindran B N &amp; Param Pandya    </title>
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Electoral bonds represent the latest attempt at removing black money from the electoral system. It is a financial instrument, much like a demand draft or currency note, which will conceal the identity of the donor from the..."/>
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-The Economic Times blog

Electoral bonds represent the latest attempt at removing black money from the electoral system. It is a financial instrument, much like a demand draft or currency note, which will conceal the identity of the donor from the..." />
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                            <div align="justify">-The Economic Times blog<br /><br />Electoral bonds represent the latest attempt at removing black money from the electoral system. It is a financial instrument, much like a demand draft or currency note, which will conceal the identity of the donor from the intended recipient political party from everyone except the issuing bank.<br /><br />These bonds can be purchased for any value, in multiples of Rs 1,000, Rs 10,000, Rs 1,00,000, Rs 10,00,000 and Rs 1,00,00,000 from the specified branches of the State Bank of India. The bonds will have a 15-day validity that will ensure that they don&rsquo;t become a safe haven or a parallel currency.<br /><br />It seeks to address the reprisals that many donors fear or face. Significantly, the scheme, as per the Press Information Bureau (PIB) press release made public on Tuesday, would not be available to new political parties, since it is necessary that a party should have obtained at least 1% votes polled in the last election contested.<br /><em><br />A Party for Bond</em><br /><br />Also, it stated that the bonds can only be encashed into designated and registered bank accounts of those political parties that qualify for the scheme.<br /><br />It&rsquo;s a view of sorts.So, both political parties and donors will be required to comply with &lsquo;Know Your Customer&rsquo; (KYC) norms.<br /><br />These bonds will be available for purchase for 10 days each in January, April, July and October. An additional period of 30 days may be specified by GoI in a Lok Sabha election year.<br /><br />A report by the Association for Democratic Reforms (ADR) states that funding to national and regional political parties from 2004-05 to 2014-15 has largely remained opaque. About 69% of the donations received by these parties amounting to Rs 7,832.98 crore were from unknown sources. Another ADR report reveals that 30.71% of the income of national parties in 2015-16 was from unknown sources. These data suggest that black money is channelled into parties in return for political patronage.<br /><br />GoI believes that the introduction of electoral bonds is a second step towards eliminating black money in India&rsquo;s electoral funding, the first being the reduction of limit for cash donation from Rs 20,000 to Rs 2,000. Both these reforms were first spoken about by finance minister Arun Jaitley in his Budget speech last year.<br /><br />The very basis for electoral bonds, though, is a matter of doubt. Both the 255th Law Commission of India Report on Electoral Reforms and the report on Proposed Electoral Reforms by the Election Commission (EC) do not mention electoral bonds or anything similar as a weapon to fight black money in political parties&rsquo; financing. As per an RTI reply, the Reserve Bank of India, the EC or the finance ministry did not have any information about who suggested electoral bonds for political funding in India.<br /><br />Please <a href="https://blogs.economictimes.indiatimes.com/et-commentary/is-electoral-bonds-scheme-an-elaborate-ruse-to-protect-anonymous-donations/" title="https://blogs.economictimes.indiatimes.com/et-commentary/is-electoral-bonds-scheme-an-elaborate-ruse-to-protect-anonymous-donations/">click here</a> to read more. <br /></div>                                                           
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    <br><a href="https://blogs.economictimes.indiatimes.com/et-commentary/is-electoral-bonds-scheme-an-elaborate-ruse-to-protect-anonymous-donations/" class="re" target="_blank">The Economic Times, 4 January, 2018, https://blogs.economictimes.indiatimes.com/et-commentary/is-electoral-bonds-scheme-an-elaborate-ruse-to-protect-anonymous-donations/</a><div class="clear"></div>
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Home हिन्दी

Are electoral bonds an elaborate ruse to protect anonymous donations? -Suchindran B N & Param Pandya

Published on Jan 7, 2018   Modified on Jan 7, 2018

-The Economic Times blog Electoral bonds represent the latest attempt at removing black money from the electoral system. It is a financial instrument, much like a demand draft or currency note, which will conceal the identity of the donor from the intended recipient political party from everyone except the issuing bank. These bonds can be purchased for any value, in multiples of Rs 1,000, Rs 10,000, Rs 1,00,000, Rs 10,00,000 and Rs 1,00,00,000 from the specified branches of the State Bank of India. The bonds will have a 15-day validity that will ensure that they don’t become a safe haven or a parallel currency. It seeks to address the reprisals that many donors fear or face. Significantly, the scheme, as per the Press Information Bureau (PIB) press release made public on Tuesday, would not be available to new political parties, since it is necessary that a party should have obtained at least 1% votes polled in the last election contested. A Party for Bond Also, it stated that the bonds can only be encashed into designated and registered bank accounts of those political parties that qualify for the scheme. It’s a view of sorts.So, both political parties and donors will be required to comply with ‘Know Your Customer’ (KYC) norms. These bonds will be available for purchase for 10 days each in January, April, July and October. An additional period of 30 days may be specified by GoI in a Lok Sabha election year. A report by the Association for Democratic Reforms (ADR) states that funding to national and regional political parties from 2004-05 to 2014-15 has largely remained opaque. About 69% of the donations received by these parties amounting to Rs 7,832.98 crore were from unknown sources. Another ADR report reveals that 30.71% of the income of national parties in 2015-16 was from unknown sources. These data suggest that black money is channelled into parties in return for political patronage. GoI believes that the introduction of electoral bonds is a second step towards eliminating black money in India’s electoral funding, the first being the reduction of limit for cash donation from Rs 20,000 to Rs 2,000. Both these reforms were first spoken about by finance minister Arun Jaitley in his Budget speech last year. The very basis for electoral bonds, though, is a matter of doubt. Both the 255th Law Commission of India Report on Electoral Reforms and the report on Proposed Electoral Reforms by the Election Commission (EC) do not mention electoral bonds or anything similar as a weapon to fight black money in political parties’ financing. As per an RTI reply, the Reserve Bank of India, the EC or the finance ministry did not have any information about who suggested electoral bonds for political funding in India. Please click here to read more.

The Economic Times, 4 January, 2018, https://blogs.economictimes.indiatimes.com/et-commentary/is-electoral-bonds-scheme-an-elaborate-ruse-to-protect-anonymous-donations/

Tagged with: Electoral bonds Association for Democratic Reforms (ADR) Political Donation Political Funding Political Parties transparency

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