Ritam Digital English
  • Home
  • Nation
  • World
  • Videos
    • Special Updates
    • Entertainment
    • Legal
    • Business
    • History
    • Viral Videos
  • Politics
  • Business
  • Lifestyle
    • Entertainment
    • Health
    • Food
    • Fashion
    • Viral
  • Sports
  • Opinion
No Result
View All Result
Ritam Digital English
  • Home
  • Nation
  • World
  • Videos
    • Special Updates
    • Entertainment
    • Legal
    • Business
    • History
    • Viral Videos
  • Politics
  • Business
  • Lifestyle
    • Entertainment
    • Health
    • Food
    • Fashion
    • Viral
  • Sports
  • Opinion
No Result
View All Result
Ritam Digital English
No Result
View All Result
  • Home
  • Nation
  • World
  • Videos
  • Politics
  • Business
  • Entertainment
  • Lifestyle
  • Sci & Tech
  • Sports
  • Opinion
Home Nation

BREAKING: Supreme Court Gives Verdict on Electoral Bonds Schemes; Asks SBI to Stop Issuing EBs

The apex court held that the bonds violate the right to information(RTI) and Article 19(1) and held that the scheme has to dismissed for being 'unconstitutional'.

Editor Ritam English by Editor Ritam English
Feb 15, 2024, 12:46 pm IST
FacebookTwitterWhatsAppTelegram

The Supreme Court of Bharat, delivered a unanimous verdict on a batch of pleas challenging the legal validity of Central government’s Electoral Bond scheme which allows for anonymous funding to political parties.

The apex court held that the bonds violate the right to information(RTI) and Article 19(1) and held that the scheme has to dismissed for being ‘unconstitutional’.

The bench consisting of Chief Justice DY Chandrachud, Justices Sanjeev Khanna, BR Gavai, JB Pardiwala and Manoj Mishra, pronounced that politcal parties are significant aspects of the electoral process and thus, information about the funding the parties receive is also important when making electoral choices.

While pronouncing the order, the apex court also instructed the SBI, the only bank which is authorised to issue or encash electoral bonds to forthwith stop issuing any such bonds. It also asked the SBI to furnish all the details of Electoral Bonds enchashed by the politcal parties.

Headed by Chief Justice DY Chandrachud, a five-judge Constitution bench had reserved its decision on November 2 last year. The electoral bonds scheme, implemented by the government on January 2, 2018, was introduced as a solution to replace cash donations and enhance transparency in political funding.

The State Bank of India shall submit the details of electoral bonds purchased since the interim order of the Court dated April 12, 2019 till date to the Election Commission of India. The details shall include the date of purchase of each electoral bond, the name of the purchaser of the bond and the denomination of the electoral bond purchased.

SBI must disclose details of each electoral bond encashed by political parties which shall include the date of engagement and the denomination of the electoral bonds”, the court said. The court added, “SBI shall submit the above information to the ECI within three weeks from the date of this judgement that is by March 6, 2024”.

Electoral bonds function as a financial instrument, allowing individuals and businesses to contribute funds to political parties discreetly, without disclosing their identities. According to the provisions of the scheme, any citizen of India or entity incorporated or established in the country can purchase these bonds, available in various denominations ranging from ₹1,000 to ₹1 crore. These bonds can be obtained at all branches of the State Bank of India (SBI), and the donations made through them are interest-free.

Tags: Chief Justice DY ChandrachudElection Commission of IndiaElectoral Bond schemeRight to Information (RTI)Article 19(1)Transparency in political fundingState Bank of India (SBI)Judicial decision on electoral bonds
ShareTweetSendShare

Related News

2017 Amarnath Yatra Terror Attack: A Dark Night in the Valley of Devotion
Nation

2017 Amarnath Yatra Terror Attack: A Dark Night in the Valley of Devotion

The Bhakra-Nangal Canal Project: A Lifeline of North India
Nation

The Bhakra-Nangal Canal Project: A Lifeline of North India

The End of the 1857 Rebellion: How a Crushed Uprising Sparked India’s Fight for Freedom
Nation

The End of the 1857 Rebellion: How a Crushed Uprising Sparked India’s Fight for Freedom

“Ye Dil Maange More”- Remembering Captain Vikram Batra, the Lionheart of Kargil
Nation

“Ye Dil Maange More”- Remembering Captain Vikram Batra, the Lionheart of Kargil

 If History Had Followed Mukherjee’s Path, What Would India Have Been Like?
Nation

 If History Had Followed Mukherjee’s Path, What Would India Have Been Like?

Comments

The comments posted here/below/in the given space are not on behalf of Ritam Digital Media Foundation. The person posting the comment will be in sole ownership of its responsibility. According to the central government's IT rules, obscene or offensive statement made against a person, religion, community or nation is a punishable offense, and legal action would be taken against people who indulge in such activities.

Latest News

2017 Amarnath Yatra Terror Attack: A Dark Night in the Valley of Devotion

2017 Amarnath Yatra Terror Attack: A Dark Night in the Valley of Devotion

The Bhakra-Nangal Canal Project: A Lifeline of North India

The Bhakra-Nangal Canal Project: A Lifeline of North India

The End of the 1857 Rebellion: How a Crushed Uprising Sparked India’s Fight for Freedom

The End of the 1857 Rebellion: How a Crushed Uprising Sparked India’s Fight for Freedom

“Ye Dil Maange More”- Remembering Captain Vikram Batra, the Lionheart of Kargil

“Ye Dil Maange More”- Remembering Captain Vikram Batra, the Lionheart of Kargil

 If History Had Followed Mukherjee’s Path, What Would India Have Been Like?

 If History Had Followed Mukherjee’s Path, What Would India Have Been Like?

78 Years Ago Today, British Parliament Passed Indian Independence Act

78 Years Ago Today, British Parliament Passed Indian Independence Act

July 4, 1947: The Secret Turning Point That Led to India’s Historic Independence a Month Later

July 4, 1947: The Secret Turning Point That Led to India’s Historic Independence a Month Later

The Death of Swami Vivekananda: A Legacy Beyond Mortality

The Death of Swami Vivekananda: A Legacy Beyond Mortality

The Sedition Trial of Bal Gangadhar Tilak in 1897: A Watershed in Colonial India’s Repression of Dissent

The Sedition Trial of Bal Gangadhar Tilak in 1897: A Watershed in Colonial India’s Repression of Dissent

Shimla Agreement: The Untold Realities Behind a Defining Indo-Pak Treaty

Shimla Agreement: The Untold Realities Behind a Defining Indo-Pak Treaty

  • Home
  • About Us
  • Contact Us
  • Privacy Policy
  • Terms & Conditions
  • Disclaimer

© Ritam Digital Media Foundation.
Tech-enabled by Ananthapuri Technologies

No Result
View All Result
  • Home
  • Nation
  • World
  • Videos
  • Politics
  • Business
  • Entertainment
  • Lifestyle
  • Sci & Tech
  • Sports
  • Opinion
  • About & Policies
    • About Us
    • Contact Us
    • Privacy Policy
    • Terms & Conditions
    • Disclaimer

© Ritam Digital Media Foundation.
Tech-enabled by Ananthapuri Technologies