Data shows 99.9% of all electoral bonds bought so far are worth Rs 10 lakh or 1 crore. These bonds do not bear name of the donor.
New Delhi: Electoral bonds, brought in to make the system of political funding “more transparent”, seem to have further concentrated donations in the hands of corporates and other high net-worth donors, instead of democratising them. Nearly 100 per cent of the bonds purchased so far have been for the highest denominations of Rs 10 lakh and Rs 1 crore.
According to data obtained from the State Bank of India — the authorised bank to issue these bonds — by the website factly.in, in the fourth and latest cycle in July, 99.7 per cent of the total electoral bonds purchased were worth these high denominations. Not a single bond worth Rs 1,000 or Rs 10,000 was purchased.
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