March 12, 2024
Electoral bonds are a relatively new concept in the realm of political funding in India.
Electoral bonds are like special notes used for political donations in India since 2017. They allow people and companies to give money to political parties without revealing who they are.
You buy electoral bonds from State Bank of India and give them to the political party of your choice. The party then cashes them in.
Only big political parties registered under certain laws can get money through electoral bonds.
They keep the donor's identity secret, making political funding more private.
You can only buy them during certain times of the year, like January, April, July, and October.
Electoral bonds come in different amounts, from as little as Rs 1,000 to as much as Rs 1 crore.
Recently, the Supreme Court decided to stop electoral bonds just before the elections. Now, political parties can still get money from people and companies, but some worry this might make political funding less transparent.