Nick Clegg is the latest senior figure from the Liberal Democrat party to speak out against plans to charge 3,000 pounds from foreigners belonging to certain "high risk" nations.
"I am absolutely not interested in a bond which becomes an indiscriminate way of clobbering people who want to come to this country," he told the BBC, adding that the bonds "are certainly not going to go ahead" on that basis.
"Of course in a coalition I can stop things," he added.
Earlier this week, his senior party colleague and UK business secretary Vince Cable had also attacked the plans and revealed that Clegg wanted the bond to be set at 1,000 pounds and be offered to visitors from "high risk" countries who have been refused a visa as a "discretionary tool" for immigration officers.
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However, UK home secretary Theresa May wants has set the amount at 3,000 pounds, which will be refunded upon departure but forfeited if visitors overstay their visas.
Indian ministerial circles had raised strong objections and sought full details on the application of the scheme.
Immigration remains a sensitive political issue in Britain against the backdrop of unemployment and austerity measures brought on by the economic crisis.
Prime Minister David Cameron has pledged to cut net immigration from 252,000 a year in 2010 to below 100,000 a year by 2015.