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Parties got 99.8 pc donations through electoral bonds of Rs 10 lakh, Rs 1 cr donations: RTI plea

Press Trust of India  |  Indore 

A whopping 99.8 per cent of donations received by political parties was through electoral bonds of the highest denominations -- Rs 10 lakh and Rs one crore -- between March 2018 and January 24, 2019, revealed data obtained under the RTI Act.

Donors purchased bonds worth Rs 1,407.09 crore of which Rs 1,403.90 crore were in the highest denominations of Rs ten lakh and Rs one crore during the period.

Chandrashekhar Goud shared the data received from State of (SBI) through an RTI query.

The donors bought 1,459 electoral bonds of denomination of Rs ten lakh and 1,258 bonds of Rs one crore denomination. They purchased 318 bonds of Rs one lakh, 12 bonds of Rs 10,000 and 24 bonds of Rs 1000 denomination, according to the RTI reply.

Electoral bonds worth Rs 1,395.89 crore were redeemed by the parties.

Gaud had also asked the how many parties redeemed the bonds and worth how much money, but the SBI did not disclose it, saying it was in fiduciary capacity disclosure which is exempted under Section 8 (1) (e) and (j) of the RTI Act.

Electoral bonds were sold by the State of (SBI) in seven tranches. They were sold in five denominations of Rs 1,000, Rs 10,000, Rs 1 lakh, Rs 10 lakh, and Rs 1 crore.

The (ADR), a voluntary organisation, working for political reforms, had approached the seeking a stay order on the sale of electoral bonds.

On Friday,the refused to suspend the political funding through electoral bonds but, did introduce conditions to bring transparency in the process.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sun, April 14 2019. 19:00 IST