In West Bengal and other states, the Supreme Court has reserved its verdict on the plea to ban electoral bonds. The Election Commission said in the Supreme Court that it supports the electoral bond scheme because if it does not happen then political parties will get donations in cash, the commission said that although it wants more transparency in the electoral bond scheme. The Commission said that the electoral bond is one step ahead of the unaccounted cash system.
Senior advocate Rakesh Dwivedi, counsel for the commission, told the court that the argument on the issue of transparency can be considered in the final stages, and there should be no interim stay.
On the petition filed by ADR, Prashant Bhushan said that electoral bonds have become a means of getting the ruling party to do their work by bribing them in the name of donations. Hearing this, the Supreme Court made the important comment that it is always the bribe money which is not only given to the ruling party but also to the party whose chances of coming to power prevail next time.
Bhushan said that the Reserve Bank of India has also lodged its objection because the RBI says that these bonds are a kind of weapon, tool or means of economic fraud. Many people can buy one-third of the electoral bonds by collecting money abroad, this actually tells the truth of the alleged campaign against the black money of the governments but also questions their credibility.