Interestingly, the donor will have to give all the information (KYC) to the bank for Bond, but the identification of the donor in the bond will be kept secret. Government has announced the electoral bond scheme for election funds. The plan to donate money through bonds to political parties was announced in the previous budget. Finance Minister Arun Jaitley announced in Parliament that no citizen of India or any company or organization will be able to buy bonds for election funds. These bonds will be found in the special branches of State Bank of India and can be in multiples of one thousand, ten thousand, one lakh and one crore rupees. Bond will be valid for 15 days of purchase.
Bond for election funds
- The government plans to donate money through bonds to curb black money.
- Interestingly, the donor will have to give all the information (KYC) to the bank for Bond, but the identification of the donor in the bond will be kept secret.
- Donors can donate these donations to any party registered in the Election Commission, which has won at least 1 percent of the total votes in the last elections.
- Organizations working for election reforms have already expressed dissatisfaction with keeping the donor's name secret. According to him, keeping the name secret is against transparency.
- Activists fighting for transparency say that after winning the election, which party helps unjustly to which institution or company's interests, it will be difficult to rein in it.
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