Electoral bonds value Rs6,210 crore offered since 2018, reveals RTI question – india information

Electoral bonds value Rs 62,103,947,000, printed over 13 phases, have been offered till March this 12 months since 2018, in keeping with the State Financial institution of India in response to a question filed underneath the Proper to Info (RTI) Act.

The question, which was filed by activist Commodore Lokesh Batra (Retd.), reveals that almost 660,000 electoral bonds have been printed till March 19,2020. Nonetheless, solely 12,452 had been offered till March.

Electoral Bonds are issued 4 instances a 12 months — in January, April, July and October. This 12 months, nonetheless, they had been solely issued in January and in October, simply forward of the Bihar elections. Till March this 12 months, solely 47 electoral bonds value Rs1,000, 70 value Rs10,000, 1,722 value Rs100,000, four,911 value Rs1,000,000, and 5,702 value Rs10,000,000 have been offered.

Practically 92% of the printed Rs10,000,000 electoral bonds have been offered, whereas almost 7% of these value Rs1,000,000 have been offered. The remaining denominations have barely been offered, amounting to lower than 1% of the full printed.

Of the bonds printed, 12 have been cancelled thus far, one value Rs1,000 and eleven value Rs10,000,000. “The division of financial affairs hasn’t shared the rationale for his or her cancellation,” Batra advised Hindustan Occasions.

The printing of electoral bonds, since their inception in 2018, has price over Rs18,599,000. These are printed at a value of Rs28 per bond, together with GST. “The printing price is borne by the federal government, that’s, the tax payers,” stated Batra. “The denominations offered additionally reveals that solely wealthy corporates are shopping for these bonds.”

Electoral bonds have been a contentious concern amongst Opposition and civil rights activists who allege that it makes the system opaque, with no technique of tracing the contributor.

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