#226: Electoral Bonds, BYE!

SC verdict, Arguments, and way forward!

Big news on #ElectoralBonds from SC

What exactly did SC say?🤔

Ab sarkar kya karegi?

Learn in JUST 3 paragraphs👇🏼

a) What did SC say?

SC Judgement has strict direction for SBI and Election Commission of India (ECI)

6 pointers

1. SBI will stop issuing Electoral Bonds

2. SBI to submit details of all EBs issued 12/04/2019 onwards to ECI

3. SBI to submit details of beneficiaries of EBs since 12/04/2019

4. 2 & 3 to be done before March 6 2024

5. ECI to publish this info on its website by 13/03/24

6. EBs within validity period with Political Parties shall be returned to SBI which further will refund to purchaser

b) What's the background of this case?

EB scheme surfaced via Amendments in Finance Act 2017

Case details

Petitioners: ADR, CPI (M), Jaya Thakur (INC leader)

Arguments:

• Anonymity undermines transparency in political funding

• Contributions through shell companies raise accountability & integrity concerns

Govt. reply

• Aim: To promote legitimate funds in Political financing via regulated channels

• Anonymity to shield contributors from political retribution

SC Questions

• What's rationale behind 'selective anonymity'?

• Apprehensions about potential institutionalization of kickbacks for political parties

• Unequal access to donor info w/ ruling party having unfair advantage

• Scrutiny over removal of cap for corporate donation

Toh ab sarkar kya karegi?🤔👇🏼

Given that judgement is at a time when the new govt. is JUST 100 days away, it becomes tricky.

With 17th LS tenure over, no reaction on legislature front is possible

A possible action can be via ARTICLE 123

If you are a serious aspirant, reply with what's 123 for *wink*

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