Deciphering the Status of the Electoral Bonds Scheme

As the country geared up for the State Assembly Elections in West Bengal, Tamil Nadu, Kerala, Assam, and Puducherry recently, a new wave of political rebuttal surfaced after the Supreme Court reserved its order on a plea that demanded a stay on the sale of electoral bonds. An electoral bond is a promissory note that can be anonymously bought by any Indian citizen or company incorporated in India from select branches of the State Bank of India to be donated to any eligible political party of their choice. Since its inception in 2018, the electoral bonds scheme has stirred a debate among the transparency activists who fear the scheme to turn into a scam; only this time it would be completely legitimized. (more…)