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LATEST NEWS UPDATES | The electoral bonds scheme and the challenges to it in Supreme Court -Diksha Munjal

The electoral bonds scheme and the challenges to it in Supreme Court -Diksha Munjal

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published Published on Sep 22, 2022   modified Modified on Sep 24, 2022

-The Hindu

So far, from March 2018 to April 2022, over 18 thousand bonds worth over 9.8 thousand crore have been sold by the SBI in 20 tranches

The story so far: The Supreme Court is expected to hear the petition filed by the Association for Democratic Reforms (ADR) challenging the Centre’s electoral bonds Scheme soon. . The plea has been pending since 2017.

The interim petitions seeking to stay the electoral bonds scheme were taken up twice in the past, in 2019 and 2021 before elections but such a stay was not granted by the apex court. The main case challenging the constitutionality of the scheme is yet to be heard and ADR’s plea appeared on the cause list for Monday, September 19, while a Bench has not been assigned yet. The scheme has generated much debate since its announcement in 2017, inviting concerns from the Election Commission, Reserve Bank of India, Parliament, and civil society.

What is the electoral bonds scheme?

Electoral bonds are money instruments like promissory notes that can be bought by companies and individuals in India from the State Bank of India (SBI) and donated to a political party, which can then encash these bonds. The electoral bond does not bear the name of the donor and is, in effect, anonymous.

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The Hindu, 22 September, 2022, https://www.thehindu.com/news/national/electoral-bonds-scheme-and-supreme-court-pleas/article65905743.ece?homepage=true


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