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Supreme Court Orders Disclosure of Electoral Bond Details: Transparency Ahead of Indian General Elections
India's Supreme Court has directed the State Bank of India (SBI) to provide all details of electoral bonds, a controversial political funding mechanism introduced in 2017 and subsequently scrapped.
ND
by News Desk
2024-03-18
Supreme Court Orders Disclosure of Electoral Bond Details: Transparency Ahead of Indian General Elections

India's Supreme Court has directed the State Bank of India (SBI) to provide all details of electoral bonds, a controversial political funding mechanism introduced in 2017 and subsequently scrapped. This move comes just a month before the general elections, stirring debates on transparency in political funding. The court's decision aims to make public information linking donors to political parties over the past five years, shedding light on corporate funding in Indian politics. While some major companies have been identified as top political funders, critics argue that electoral bonds enabled companies to conceal their donations. Opposition parties, including the Congress party, have accused the government of using electoral bonds for extortion, a claim strongly denied by the ruling party. Despite industry bodies' plea to preserve donors' anonymity, the court upheld the decision for transparency, emphasizing the importance of disclosure in political funding.
Tagged:

ElectoralBonds

Supreme Court of India

PoliticalFunding

IndiaPolitics
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