Wed, 11 Dec 2019

New Delhi [India], Nov 20 (ANI): Congress leader Ghulam Nabi Azad on Wednesday hit out at the BJP government at the Centre over the electoral bond scheme.

Speaking at a press conference, senior Congress leader Ghulam Nabi Azad said, "To issue electoral bond scheme was a conspiracy. It was based on the premise that the donor who gives money need not disclose his identity. The political party is also not liable to disclose the identity of the donor.""This was opposed by the Reserve Bank of India (RBI) which has stated that this scheme will lead to the encouragement of money laundering," Azad said.

"In this scheme, it is not disclosed who gives fund to a political party. The money could be donated from a fraudster or even a terrorist," the Congress leader said while criticising the electoral bond scheme.

"The Election Commission has stated that this scheme will end the transparency of the donations. It will lead to an increase in the use of black money by political parties through shell companies," Azad added.

Electoral bonds may be purchased by a person, who is a citizen of India or incorporated or established in India. A person being an individual can buy electoral bonds, either singly or jointly with other individuals.

Only the political parties registered under Section 29A of the Representation of the People Act, 1951 (43 of 1951) and which secured not less than one per cent of the votes polled in the last general election to the House of the People or the Legislative Assembly of the state shall be eligible to receive the electoral bonds.

The bonds shall be encashed by an eligible political party only through a bank account with the authorised bank. (ANI)

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