Electoral Bonds: Political Funding in India

Electoral Bonds were introduced in India in 2018 as a financial instrument for political donations. These bonds could be purchased from authorized banks and donated to registered political parties without revealing the donor’s identity to the public. The scheme aimed to promote clean political funding and reduce cash donations. However, critics argued that it reduced transparency in political finance. In 2024, the Supreme Court of India declared the Electoral Bonds Scheme unconstitutional, emphasizing citizens’ right to know the sources of political funding.