SC strikes down electoral bonds scheme, calls it unconstitutional.

Syllabus: GS-II

Subject: Polity

Topic: Elections and RPA

Issue: Electoral Bonds

Context: Supreme Court striked down electoral bonds scheme.


  • Violated right to information and free speech.
  • lacks transparency.


  • Details of donations to be provided to the Election Commission.
  • Uncashed bonds to be refunded.
  • Amendment to the Companies Act allowing corporate funding was also struck down.Top of Form
  • Electoral bonds introduced in 2018 by the Government of India for anonymous political donations.
  • Only registered political parties eligible to receive electoral bonds.
  • Eligibility criteria include recognition under Section 29A of the Representation of the People Act, 1951, and securing at least 1% of votes in recent elections.
  • Denominations range from Rs. 1,000 to Rs. 1 crore.
  • State Bank of India (SBI) is the sole authorized bank for selling electoral bonds.
  • Citizens or Indian-incorporated bodies can purchase bonds.
  • Bonds have a 15-day lifespan for donation to registered political parties.
  • Available for purchase for 10 days each in January, April, July, and October.
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