Special Report

Who is giving money to political parties? Learn Everything About Electoral Bond

Who is giving money to political parties? Learn Everything About Electoral Bond

If the political party has to donate, then the election can be given to the party by buying election bonds. These bonds can be bought from SBI.

The Supreme Court on Friday ruled out its decision on electoral bonds (election bonds). Earlier, the court had rejected the Center's plea not to interfere till elections. Now the Supreme Court has said that all political parties have to give information of electoral bonds before the Election Commission. It will also have to give bank details to the parties. The court has said that the political parties, give the commission all the information in a sealed envelope.

The court has not imposed any restriction on the election bond in its decision, in this case the relief is available to the government. The political parties will have to give this information before May 30 before the Election Commission.

The central government has created election bonds to keep the details of the funds of political parties in the elections. It was said from the center that it is for transparency of funds. The pie-pie given to every political party under the election bond will be accounted for by the bank.

Electoral bond scheme is known in English as 'electoral bond scheme'. These bonds will be available to select branches of State Bank of India. The 29 branches that can buy Bonds are in these cities. New Delhi, Gandhinagar, Chandigarh, Bangalore, Bhopal, Mumbai, Jaipur, Lucknow, Chennai, Calcutta and Guwahati. Any person, company or institution of India can buy these bonds for election funds. These bonds can be up to one thousand, ten thousand, one lakh and one crore rupees.

If any citizen of the country wants to donate to any political party, then he will have to buy election bonds with SBI. Then he will be able to buy a bond and give it to any party.

The RBI will issue these bonds on behalf of the government. The donor can buy a bond from the bank and give it to any party. Then the political party will be able to redeem the bond in their account. Bond will not know who gave donations.

Three players in bond
First- Donor, who wants to donate funds to political parties. Can be a person, organization or company.
Second- National and regional political parties of the country.
Third- The central bank of the country, Reserve Bank of India

These bonds were bought from State Bank of India in March, April, May, July and October. Its sixth installment will start biking in November. Bond has a period of 15 days, ie, after 15 days of purchase, it is to give a bond to the political party. It is also registered political party. The party will also be able to redeem them only through authorized bank accounts. Buyer's KYC will be necessary. These bonds can be given to those registered political parties, who got at least one percent of the votes in the last election.

1. March-1 to 10 March sold. Then 222 million bonds were purchased.
2. In April-April, there was a sale of 114.9 million.
3. May-1 sold from May 10.
4. July-July sold till July 11.
5. October-1 to October 10
6. November to November 11th.

In response to an RTI reply provided by the bank, in March 2018, it sold bonds of more than Rs 222 crores. In April this sale was Rs 114.9 crore.

This is the world's first election bond?
Maybe it happens. News 18 talked to several financial experts. None of them said that there is such a political funding party in any democracy in the world. Jagdeep Choker of Association of Democratic Reforms said that there are electrals in India, but the electric bonds are new.

Political parties income source
During the period 2004-05 and 2014-15, the source of 69% of the total income of political parties was not known (unknown). The Santhanam committee also raised black money case in 1964. Let the santhanam committee be formed in the year 1962 by the then Home Minister Lal Bahadur Shastri, the senior Congress leader. In the presidency of Santhanam.

Anybody buying a bond?
Giving the election bond to a party, 'buying a bond' will not be of any use. Nor is there any return of this money. This is like a donation to the unitary political parties.


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