Electoral bond scheme Current Affairs, GK & News
Electoral bond scheme is a scheme announced during the 2017 Union Budget to enable anonymous donation of money to political parties. Electoral bonds are interest free bearer instruments that are sold in several denominations: Rs 1,000, Rs 10,000, Rs 1 lakh, Rs 10 lakh, and Rs 1 crore by the State Bank of India. No other bank is authorised to sell electoral bonds. The bond does not bear the name of the buyer or the payee.
Supreme Court of India, on March 26, 2021, refused to stay sale of fresh set of electoral bonds from 1 April. This decision was taken ahead of assembly elections across four states; Kerala, West Bengal, Assam and Tamil Nadu and in Union Territory of Puducherry. Highlights Supreme Court, while refusing the stay, underlines that these ..