Supreme Court scrapped Electoral Bond Scheme that allowed anonymous funding to political parties

The Voice of Chandigarh:

A five-judge bench of the Supreme Court, led by Chief Justice D.Y. Chandrachud, declared the Electoral Bonds Scheme unconstitutional.

The court found the scheme to be violative of Article 136 (right to information) and Article 291 (constitutional mandate of elections being free and fair). The anonymity provided by the scheme was deemed detrimental to transparency and accountability in political funding.

The judgment has immediate implications as it directs the State Bank of India to stop issuing Electoral Bonds. Additionally, the Election Commission of India needs to publish details of past contributions received through this scheme by March 13, 2024.

The verdict has garnered mixed reactions. While some hailed it as a victory for transparency, others expressed concerns about potential impact on political funding and party activities.

Just months ahead of the Lok Sabha election, the Supreme Court scrapped Electoral Bond Scheme that allowed anonymous funding to political parties