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Electoral Bonds (Highlights (bearer instrument (interest free (banking…
Electoral Bonds
Highlights
bearer instrument
promissory note
interest free
banking instrument
eligbility
citizen of India
body
incorporated in India
purchase from
SBI
KYC norms
life
15 days
political parties getting funds
1% or more vote
last election
Lok Sabha
Assembly
Cons
transparency - not for public
identity of donor
not disclosed
income tax breaks
not available
for donors
donor privacy compromised
banks knows
identity
only benefit ruling party
as the govt
knows all info
bonds trading
for profit
Pros
cleaner money
from donors
ensure
transparency
electoral funding
donor info
not disclosed
boost
digital transactions
way forward
National Electoral Fund
all donors can cantribute
fund allocation
based on
proportion of vote
tax benefits
donors