Pointing out numerous serious flaws in the Electoral Bond Scheme, the former Chief Election Commissioner VS Sampath claims that the scheme lacks transparency.

On Tuesday, ahead of forthcoming Lok Sabha Elections, Congress has released its manifesto, reads that the greatest challenge is to free and fair polls are the EC’s inability to reduce the use of black money in election campaigns.

It continued, “We will scrap the opaque electoral bond scheme that was designed to favor the ruling party.”

Mr. Sampath was speaking at an SPS-PVR panel discussion over “Demystifying Elections” claims that this month alone, donations of around Rs. 1700 crores were made to several political parties.

He also said that “in this, the identity of the donor is not known…it is anonymous…such donations can lead to malpractices.”

Adding to Election Analyst and former Editor EPW Paranjoy Guha said that “Electoral bonds are legalized corruption, because who gets to know the information relating to the electoral bonds? It is the State Bank of India, 80 percent of SBI’s stakeholder is the government of India.”

Mr. Sampath claims that the information that he has is that 90 percent of the electoral bonds purchased have been deposited in the accounts of BJP.

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