According to a recent report, Prime Minister Narendra Modi's office allegedly encouraged the Finance Minister to approve the sale of Electoral bonds against its own rules before vital state polls.
Electoral bonds were established by the Central Government on January 29, 2018. This scheme allows any Indian citizen or corporation of India to buy the bond which is more like a promissory note from any of the state bank branches and then make a donation of the same to any of the political party of its choice. The government-specified four 10-day windows in January, April, July and October each year when the State Bank of India (SBI) would sell these bonds to donors in 2018. And the latest reports suggest that Narendra Modi's office allegedly sanctioned for an illegal sale of the same breaking the rules made by the election commission according to reports. The party's annual reports show that it's 95% of donations were made through this channel. This whole news has got the Twitterati talking about it.
The introduction of Electoral bonds raised a lot of concerns right from the beginning. After much deliberation, the Supreme Court had ordered that such bonds be notified with the election commission who will have a detailed record of the same. The bond maintained the anonymity of the people donating into the account allowing them to not mention the source of their money. Another limitation that was removed was the limit of money that can be donated by the corporation giving them an opportunity to flow in limitless money for the political party.
Here is how Twitterati reacted to the news:
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