Eligibility for Electoral Bonds Scheme
The following describes political parties’ eligibility to accept electoral bonds.
- Only Political Parties that received at least 1% of the votes cast in the most recent general election for the Legislative Assembly or the House of People and are registered under Section 29A of the Representation of the People Act, 1951 (43 of 1951).
- A Political Party is not permitted to redeem Election Bonds from more than one Current Account.
- A verified account should have been granted to the political party by the Indian Election Commission.
Electoral Bonds
Electoral bonds were introduced with the Finance Bill of 2017. They are securities or instruments that are used to make financial contributions to political parties. Notification of the Electoral Bonds came out in 2018.
In this article, we will learn about Electoral Bonds in detail, including their scheme, recent update, eligibility, advantages, and disadvantages.
Table of Content
- What are Electoral Bonds?
- Electoral Bonds Scheme in India
- Supreme Court Declared Electoral Bonds Unconstitutional
- Electoral Bonds Under Scrutiny in Supreme Court
- Supreme Court’s Hearing on Electoral Bonds Scheme
- Eligibility for Electoral Bonds Scheme