Government announces ‘Electoral Bonds’ to ensure transparent political funding

Updated:1 year, 1 month ago IST

New Delhi, Jan 02 (ANI): In a bid to ensure political funding, Union Finance Minister Arun Jaitley announced that the government has come up with a funding scheme that will provide a clean and transparent funding to political parties. Jaitley said that ‘Electoral Bonds’ is an alternative funding scheme in the wake of growing anonymous donations given by the individuals to the political parties. The bonds will be associated to only those parties which are registered under Election Commission and who have gained at least one percent of votes to show some amount of following. The political party must specify one bank account in which the bonds will be encashed which can be bought from specified branches of State Bank of India (SBI).

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