-TheCitizen.in It’s a powerful means of centralising power and crushing opposition NEW DELHI: Finance Minister Arun Jaitley had outlined a scheme of Electoral Bonds in his budget speech on February 2, 2017. Now, exactly 11 months later, the notification of the scheme and some details of it have finally been announced in a Press Information Bureau release on January 2, 2018. Along with this release Jaitley himself has also written an explanation-cum-defence of...
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Are Electoral Bonds an elaborate ruse to protect anonymous donations? -Suchindran B N & Param Pandya
-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...
More »The fine print: Groups of individuals, NGOs can buy Electoral Bonds without public disclosure -Nitin Sethi
-Scroll.in The scheme could help entities route black money to political parties through shell companies, experts fear. It isn’t only companies that have been allowed to make anonymous donations to political parties through Electoral Bonds. The fine print of the scheme announced by the Finance Ministry on Thursday also allows individuals, groups of individuals, NGOs, religious and other trusts, Hindu Undivided Family units and all other entities recognised by law to...
More »Poll bond transparency test: Govt finalises terms for donation process
-The Telegraph New Delhi: A company that has been in operation for less than three years will be able to donate money to a political party through Electoral Bonds, according to the terms finalised by the Centre on Tuesday. But a party that could not secure 1 per cent of the vote in the previous election will not be eligible for the Electoral Bonds. This could pose a funding challenge for new...
More »Mystery of Electoral Bonds
-The Telegraph New Delhi: Two finance ministry departments, the Election Commission and the Reserve Bank have no information on the consultations over Electoral Bonds the Centre introduced nine months ago and touted as a "game-changing" decision to clean up political funding, an RTI query has revealed. RTI activist Venkatesh Nayak had sought from the department of economic affairs (DEA), a wing of the finance ministry, details of the number of representations it...
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