Thus far, electoral bonds worth at least Rs 6,000 crore have been sold since March 2018. Electoral bonds, the RBI said, would effectively be a type of “bearer bond” — a notoriously opaque financial instrument that carries no trace of its ownership. But in the case of electoral bonds, the top echelons of the Modi government had already made up their mind. An internal government document recording then-finance secretary Hasmukh Adhia's summary dismissal of the Reserve Bank of India's opposition to electoral bonds. Exchange of hands in such bonds leaves no trail.”An early concept note on electoral bonds obtained under the RTI Act.

Source: Huffington Post November 18, 2019 01:41 UTC