| Syllabus: GS-II, Subject: Polity, Topic: Elections and RPA, Issue: Electoral bonds |
Context: Election Commission of India to compile and put out data on electoral bonds provided to it by the State Bank of India by March 15.
Details:
- The data will be available in public domain in two separate lists.
- One list will have the date of purchase of bonds, name of purchaser, and the denomination for each bond.
- The other will provide the details of every bond encashed by political parties, the date of encashment, and the denomination of the bond.
Electoral bonds Scheme:
- Introduced in 2018 for political donations.
- They are bearer instruments like promissory notes, payable to the bearer on demand.
- Eligibility: Political Parties registered under Section 29A of the Representation of the People Act, 1951, and securing at least 1% of votes in recent elections.
- Denominations :From Rs. 1,000 to Rs. 1 crore.
- Authorised bank: State Bank of India (SBI)
- Citizens or Indian-incorporated bodies can purchase bonds.
+1 Advantage for Mains (Important Judgements):
| Association For Democratic Reforms vs Union Of India 2024 judgement:
● The scheme was held as “unconstitutional” by the Supreme Court for being violative of right to information under Article 19(1)(a). |
