What are Electoral Bonds?
An Electoral Bond (EB) is a bearer instrument that resembles a promissory note and a low-interest financial instrument.
EBs are available in denominations of 1,000 rupees, 10,000 rupees, 100,000 rupees, 1 million rupees, and 10 million rupees They resemble bank notes. These bonds function similarly to bearer bonds or promissory notes in that the political party holding the bonds is paid by the issuer (bank), who also serves as the custodian.
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