No breaking of rules in issuance of electoral bonds, Finance Ministry informs LS

There is no breaking of rules in the issuance of electoral bonds, the Finance Ministry informed the Lok Sabha on Monday in a written reply.

Responding to the question of Santok Singh Chaudhary if the ministry had received any instructions leading to breaking of rules about the issuance of electoral bonds, the reply reads: "Does not arise because competent approvals were taken for every issuance of electoral bonds."

In response to the question whether the ministry has allowed the unscheduled sale of electoral bonds in the run-up to assembly elections and if so, the details thereof, the reply reads: "No. All issuances were scheduled with the approval of the competent authority. The schedule was informed to the public through a Press Communique released in advance from time to time."

The Finance Ministry said that "as against total non-transparency in the earlier system of cash donations, where the donor, donee, the quantum of donations and the nature of expenditure are all undisclosed, transparency has been introduced in as much as all donors declare in their accounts the amount of bonds that they have purchased, and all parties declare the quantum of bonds that they have received.