News: According to RTI documents, electoral bonds with denomination of Rs 1 crore accounted for more than 91% of the Rs 5,896 crore raised between March 1, 2018 and July 24, 2019. Facts: About Electoral Bond Scheme It is a non-interest bearing financial instrument which can be used by people/company incorporated in India for funding… Continue reading Electoral bonds: More than 91% donations over Rs 1 crore each
Tag: Electoral bond scheme
Electoral bonds: Law Ministry, CEC objected to 1% vote share requirement
News:According to an RTI reply,Law Ministry had objected to the stipulation that political parties must have a 1% vote share in the Lok Sabha or State Assembly elections in order to be eligible for the Electoral bonds scheme. Facts: What were the objections regarding Electoral Bonds? Law ministry: Law ministry had objected to the proposal… Continue reading Electoral bonds: Law Ministry, CEC objected to 1% vote share requirement
Electoral Bond Scheme
News:Government of India has notified the Electoral Bond Scheme 2018. Facts: About Electoral Bond Scheme: Electoral bonds allows donors to pay political parties using banks as an intermediary. The bond would be a bearer instrument in the nature of a Promissory Note and an interest free banking instrument. It can be bought for any value… Continue reading Electoral Bond Scheme
Voters needn’t know source of political funding: govt.
The government has told the Supreme Court that anonymity should be maintained in the electoral bond scheme to protect donors and recipients right to privacy. The government’s statement came during a hearing on electoral bonds in the Supreme Court.The petition had challenged the validity of the Electoral Bonds scheme on the grounds that (a)It keeps… Continue reading Voters needn’t know source of political funding: govt.
Anonymity of poll bonds must go: EC
The Election Commission of India (ECI) has told the Supreme Court that it was not opposed to the use of Electoral Bonds as an instrument but did not want the donations to remain anonymous. Earlier,the Election Commission had filed an affidavit in the Supreme Court.It said that the introduction of electoral bonds and the removal… Continue reading Anonymity of poll bonds must go: EC
In SC, govt. defends electoral bonds
The Government has opposed in the Supreme Court on the concerns raised by the Election Commission on issuing electoral bonds. Earlier,theElection Commission of India had filed an affidavit in the Supreme Court.It said that the introduction of electoral bonds and the removal of the cap on corporate funding by the government will have a serious… Continue reading In SC, govt. defends electoral bonds
Electoral bonds hit transparency in political funding, says Election Commission
The Election Commission of India has filed an affidavit in the Supreme Court.It said that the introduction of electoral bonds and the removal of the cap on corporate funding by the government will have a serious impact on the transparency of political funding. EC has said that the amendment made to the Foreign Contribution Regulation… Continue reading Electoral bonds hit transparency in political funding, says Election Commission
SC to hear plea to stay poll bonds on April 2
The Supreme Court has decided that it will hear on April 2 the petitions which have challenged the issuance of electoral bonds by the government. The petitioners have challenged the electoral bond scheme on the grounds that it (a)keeps the identity of the donor absolutely confidential (b)would enable corporate houses to anonymously donate their unaccounted… Continue reading SC to hear plea to stay poll bonds on April 2
Govt. defends electoral bonds scheme in SC
A petition has been filed in the Supreme Court asking for it to strike down the Electoral Bond Scheme 2018 and amendments in the Finance Act, 2017.The act says that political parties are not required to maintain any record of the names and addresses of donors of these bonds. Government has defended the electoral bonds… Continue reading Govt. defends electoral bonds scheme in SC
