Electoral Bonds Scheme – UPSC Notes

In Feb 2024, the Supreme Court of India struck down the Electoral Bonds Scheme in the case: Association for Democratic Reforms (ADR) vs Union of India

Electoral Bonds Scheme – UPSC Notes

🗳️ Electoral Bonds Scheme – UPSC Notes (Simplified) 📌 Why in News? In Feb 2024 , the Supreme Court of India struck down the Electoral Bonds Scheme in the case: Association for Democratic Reforms (ADR) vs Union of India . Court ruled that the scheme violated citizens' Right to Information and was unconstitutional . 🔍 What is the Electoral Bonds Scheme? Introduced in 2018 by the Government of India. Purpose: To bring transparency in political funding and reduce black money in elections. ✅ Key Features: A promissory note or bearer instrument , like cash – no name of donor is mentioned. Issued by : Only through State Bank of India (SBI) . Who can buy? : Any Indian citizen. Any company registered in India. Who can receive? Only political parties that got at least 1% votes in the last general election. Validity : Can be encashed within 15 days in the party’s authorized account. 🧾 Example (Simplified): Let’s say: 👤 Mr. Ramesh owns a big company called Ramesh Pvt. Ltd. 🏦 He goes to State Bank of India (SBI) a…

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