What is the electoral bonds scheme verdict according to the Supreme Court
Anonymity in the electoral bonds scheme was found to be 'selective' but not 'fool-proof' by the Supreme Court.
The Supreme Court has given its verdict on the electoral bonds scheme, stating that the anonymity provided by the scheme is 'selective' but not 'fool-proof'. Here is a point-wise explanation of the verdict:
- The court acknowledged that the electoral bonds scheme does provide some degree of anonymity to donors, as their identities are not disclosed to the public or political parties.
- However, the court recognized that the anonymity aspect of the scheme is not fool-proof, as the State Bank of India, which issues these bonds, keeps a record of the donors' identities.
- The court raised concerns about the potential misuse of the scheme, particularly by shell companies and foreign entities that can make anonymous political donations.
- The court highlighted the need for transparency in political funding to maintain the integrity of the electoral process and prevent corruption.
- The court suggested that greater measures should be taken to ensure accountability, such as making necessary amendments to the law to ensure disclosure of the donor's identity to political parties.
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