The controversial mode of political funding was introduced by the Narendra Modi government in the 2017-18 budget. Electoral bonds allow individuals, organizations, and corporations to donate money to parties while concealing their identities.
Available in denominations of Rs. 1,000, Rs. 10,000, Rs. 1 lakh, Rs. 10 lakh, and Rs. 1 crore, only select branches of State Bank of India (SBI) sell electoral bonds.
Both Congress and BJP received crores through electoral bonds
BJP received a total of Rs. 23,54,02,54,712 in donations. Of them, 61.63% came through electoral bonds. And out of Congress' Rs. 5,51,55,72,407, 69.49% came from electoral bonds. 68.73% of Trinamool's donations came through this route.