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What is an Electoral Bond

Electoral Bond

About Electoral Bond

What is an Electoral Bond

An electoral bond is like a promissory note that can be bought by any Indian citizen or company incorporated in India from select branches of State Bank of India. The citizen or corporate can then donate the same to any eligible political party of his/her choice. The bonds are similar to bank notes that are payable to the bearer on demand and are free of interest. An individual or party will be allowed to purchase these bonds digitally or through cheque.
 
When was electoral bond introduced?
 
The electoral bonds were introduced with the Finance Bill (2017). On January 29, 2018 the Narendra
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Latest Updates on Electoral Bond

From Article 370 to RTI: Justice Sanjiv Khanna's defining judgments

Upon receiving clearance from the Centre, Justice Sanjiv Khanna will assume the role of the 51st Chief Justice of India, serving for six months before retiring on May 13, 2025

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Updated On : 17 Oct 2024 | 1:24 PM IST

SC rejects pleas for court-monitored SIT probe into electoral bonds scheme

The top court said it cannot order a roving inquiry into purchase of electoral bonds on the assumption of a quid pro quo for award of contract

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Updated On : 02 Aug 2024 | 11:41 PM IST

SC to hear PIL for court-monitored SIT probe into electoral bonds on Monday

The SC is also scheduled to hear a batch of petitions related to the controversy-ridden medical entrance exam, NEET-UG 2024, which was held on May 5

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Updated On : 21 Jul 2024 | 11:03 PM IST

SC to hear petitions seeking SIT probe in electoral bonds scheme on July 22

A top court bench led by Chief Justice D Y Chandrachud on Friday took the note of the submissions made by senior lawyer Prashant Bhushan and listed the PILs for July 22

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Updated On : 19 Jul 2024 | 2:14 PM IST

State Bank of India once again refuses to disclose electoral bond SOPs

State Bank of India has declined to disclose its SOPs for electoral bond transactions, citing 'commercial confidence' and asserting them as the bank's 'intellectual property'

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Updated On : 21 May 2024 | 3:31 PM IST

NGOs urge SC to list PIL seeking SIT probe into electoral bonds scheme

A five-judge Constitution bench had on February 15 scrapped the electoral bonds scheme of anonymous political funding introduced by the BJP government

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Updated On : 14 May 2024 | 12:01 PM IST

Electoral bonds used as bribe by companies for contracts: Prashant Bhushan

Out of the Rs 16,500-crore electoral bonds, half went to the BJP and the rest to parties like the TMC and the Congress. However, those who were not ruling did not get any money, he said

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Updated On : 11 May 2024 | 10:07 PM IST

LS polls: Mayawati slams BJP for taking money through electoral bonds

The Bahujan Samaj Party chief asserted that her party 'did not take a single penny' through electoral bonds, which she said was declared illegal by the Supreme Court

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Updated On : 11 May 2024 | 6:43 AM IST

Electoral bonds: Plea in SC seeks SIT probe into alleged quid pro quo

A five-judge constitution bench of the apex court had on February 15 scrapped the Centre's electoral bonds scheme of anonymous political funding

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Updated On : 24 Apr 2024 | 1:11 PM IST

BJP may bring back electoral bonds after 2024 elections: FM Sitharaman

Electoral bond issue: Finance Minister Sitharaman said electoral bonds could be reintroduced with improvements for transparency and stakeholder consultations if BJP came back to power after the ongoin

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Updated On : 20 Apr 2024 | 4:37 PM IST

Electoral bonds better than giving sacks of money to parties, says FM

The senior BJP leader also defended the electoral bond scheme, saying it was introduced through a law passed in Parliament

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Updated On : 17 Apr 2024 | 12:12 AM IST

Rahul slams PM Modi over electoral bonds, calls it 'form of extortion'

During his campaign in Wayanad Lok Sabha constituency, the Congress candidate accused the BJP-led central government of using sophisticated tactics to threaten targeted businessmen

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Updated On : 16 Apr 2024 | 7:42 PM IST

PM Narendra Modi hints at bringing fresh scheme for electoral funding

Modi said the next govt will share these drafts with the states, and invite their inputs, which he hopes to discuss threadbare with the CMs at a NITI Aayog meeting to be called after Lok Sabha polls

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Updated On : 15 Apr 2024 | 10:27 PM IST

'Everyone will regret it': PM Modi on scrapping of electoral bonds scheme

Prime Minister Narendra Modi defended the electoral bonds scheme during an interview with ANI, said it was aimed to curb black money during elections

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Updated On : 15 Apr 2024 | 8:29 PM IST

Plea in SC seeks review of verdict scrapping BJP's electoral bonds scheme

The electoral bonds scheme, which was notified by the government on January 2, 2018, was pitched as an alternative to cash donations made to political parties

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Updated On : 15 Apr 2024 | 1:38 PM IST

CBI FIR against second-biggest electoral bond buyer Megha Engineering

Eight officials of the NISP and NMDC and two officials of MECON were also named in the FIR for receiving alleged bribe of around Rs 78 lakh in clearing bills of Rs 174 crore of Megha Engineering

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Updated On : 14 Apr 2024 | 11:35 PM IST

SBI refuses to disclose details of electoral bonds under RTI Act

Supreme Court directed the SBI on February 15 to furnish the complete details of the bonds purchased since April 12, 2019 to the EC

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Updated On : 11 Apr 2024 | 11:17 PM IST

Electoral bond scheme 'muddied waters' of political donations: Congress

The RBI had also flagged the possibility of firms misusing bearer bonds for money laundering, he said

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Updated On : 10 Apr 2024 | 11:21 AM IST

SBI billed govt Rs 10.68 crore as 'commission' for electoral bonds

The amount was charged across 30 phases with fees ranging from Rs 1.82 lakh to Rs 1.25 crore

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Updated On : 05 Apr 2024 | 8:38 PM IST

Nation paid price for BJP's compulsion to get 'chanda' at all costs: Cong

The aggregate net losses of these 33 companies were over Rs 1 trillion. 16 out of these 33 companies paid zero or negative direct taxes in aggregate, he said

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Updated On : 04 Apr 2024 | 1:29 PM IST