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Supreme Court flags concern over misuse of electoral bonds
Why is it in news?
- The Supreme Court flagged its concern that political parties could misuse crores of rupees received as donations through electoral bonds.
Details:
- The apex court said the funds could be used to bankroll violent protests or even terror.
- The court asked the government whether there was any control over how these donations were used by the political parties.
What are Electoral bonds?
- Electoral bond is an instrument to fund political parties. It is like a promissory note.
- The government had notified the Electoral Bonds in 2018.
- To be eligible for this scheme, the registered political party must secured at least 1% of the votes polled in the last general elections.
Aim:
- Considered as an alternative to cash donations.
- To Ensure transparency in political funding.
How It Works?
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Source: The Hindu.