Electoral bonds were anonymous political-donation instruments sold only by the State Bank of India from March 2018 to January 2024, worth about Rs 16,518 crore…
Arun Jaitley's Budget proposed bonds bought from a bank to fund parties. The Finance Act, 2017, removed the cap on company donations.
Citizens and companies bought bonds of Rs 1,000 to Rs 1 crore from SBI and gave them to parties, who had 15 days to encash them.
With the 2019 election under way, the Supreme Court told parties to give donor details to the Election Commission in sealed covers.
The Court held that secret political donations violated voters' right to information and that unlimited company donations were arbitrary.
After SBI's plea for delay was rejected, bond numbers let donors be matched to parties. The BJP got about half of all bond money.
The Court refused a court-monitored probe and would not confiscate funds. Review pleas against the verdict were dismissed.
Electoral trusts paid out Rs 3,826 crore in 2024-25, 82.5% to the BJP. ADR counts Rs 16,518 crore in bonds over six years.
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