<h5>What are electoral bonds?</h5><p>Electoral bonds are special certificates that anyone, like people or organisations, can buy to support their favourite political party. These bonds can be donated to political parties. They can be purchased via the State Bank of India (SBI).</p><p>Political parties need to encash them within a specific time. The bonds don't show the donor's name or other details, so the donations are anonymous. More information about electoral bonds can be found <a target="_blank" rel="noopener noreferrer" href="https://www.newsahoot.com/articles/electoral-bond-what-are-they">here</a>.</p><p>Electoral bonds have been the subject of some petitions filed in the Supreme Court (SC) of India.</p><figure class="image"><img src="https://firebasestorage.googleapis.com/v0/b/newsahoot.appspot.com/o/supreme-court-s-verdict-on-electoral-bonds%2FElectoral%20Bond.jpg?alt=media&amp;token=94445f03-81f1-4533-9465-1cb1f6308b70"><figcaption>An electoral bond sample. Photo by The Hindu.</figcaption></figure><h5>What petitions were filed?</h5><p>Electoral bond buyers remaining anonymous is a big issue. One person thinks people should know about donations to political parties. Another person worries parties might use the money for other things, not just elections.</p><p>The government says the bond buyers should stay secret. They say this protects them from attacks by other parties. The government also says buyers have a right to privacy. These are some arguments about electoral bonds.</p><p>Recently, the SC gave a verdict about them.</p><h5>What verdict has the Supreme Court given?</h5><p>On 15th February 2024, the SC made a decision about electoral bonds. They said that keeping the donors anonymous is against people's right to information. They have struck down the scheme, stating it is unconstitutional.</p><p>The SC told the SBI to stop issuing electoral bonds. They also asked SBI to give details about all electoral bonds bought to the Election Commission of India (ECI). These details include the purchase date, who bought them, and the bond amount.</p><p>SBI must also tell ECI about the political parties that received money through electoral bonds. They must share details about each bond encashed by political parties, like the date and amount.</p><p>SBI needs to provide all this information by 6th March 2024. ECI must put this information on its website by 13th March 2024. If any electoral bonds are still valid and not encashed, political parties must return them to the buyer. The bank will then return the money to the person.</p>

The SC’s verdict came after many petitions regarding electoral bonds were filed with the court.

Supreme Court’s Verdict on Electoral Bonds

Collect 150 Hootcoins!

India’s UPI Launched in Two New Countries

Major Changes Expected in CUET UG Exam

Major Diplomatic Win for India

Supreme Court’s Verdict on Electoral Bonds

Collect 150 Hootcoins!

Did you read these articles?

India’s UPI Launched in Two New Countries

Major Changes Expected in CUET UG Exam

Major Diplomatic Win for India