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LATEST NEWS UPDATES | Despite 'reform', political parties are getting large anonymous donations -Ruhi Tewari

Despite 'reform', political parties are getting large anonymous donations -Ruhi Tewari

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published Published on Aug 26, 2018   modified Modified on Aug 26, 2018
-ThePrint.in

Data shows 99.9% of all electoral bonds bought so far are worth Rs 10 lakh or 1 crore. These bonds do not bear name of the donor.

New Delhi:
Electoral bonds, brought in to make the system of political funding “more transparent”, seem to have further concentrated donations in the hands of corporates and other high net-worth donors, instead of democratising them. Nearly 100 per cent of the bonds purchased so far have been for the highest denominations of Rs 10 lakh and Rs 1 crore.

According to data obtained from the State Bank of India — the authorised bank to issue these bonds — by the website factly.in, in the fourth and latest cycle in July, 99.7 per cent of the total electoral bonds purchased were worth these high denominations. Not a single bond worth Rs 1,000 or Rs 10,000 was purchased.

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ThePrint.in, 23 August, 2018, https://theprint.in/governance/despite-reform-political-parties-are-getting-large-anonymous-donations/103914/


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