The Government notified the scheme of Electoral Bonds in 2018 to cleanse the system of political funding in the country.
Broad Features of the Scheme
Electoral Bond would be a bearer instrument in the nature of a Promissory Note and an interest free banking instrument. A citizen of India or a body incorporated in India will be eligible to purchase the bond.
A bearer instrument does not carry any information about the buyer or payee and the holder of the instrument (which is the political party) is presumed to be its owner.
Electoral bond would be issued/purchased for any value, in multiples ....
