Hyderabad no. 4 in funding via electoral bonds | Hyderabad | Hyderabad News

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HYDERABAD: An independent analysis done by Association of Democratic Reforms (ADR) has revealed that Hyderabad was fourth among cities with Rs 866 crore raised through electoral bonds between March 2018 and January 2021 in 15 phases. Mumbai (Rs 2,022 cr), Kolkata (Rs 1,527 cr) and Delhi (Rs 954 cr) occupied the top three spots.
The electoral bond scheme introduced by BJP-led NDA government at the Centre in 2018 allows citizens and corporate houses to buy these bonds with State Bank of India, which are similar to bank notes, and donate them to a political party.

A total of Rs 1,164 crore worth bonds were raised from other cities apart from these four cities.
The bonds are sold in the denomination of Rs 1 lakh, Rs 10 lakh and Rs 1 crore. However, there is no information as to which political party had received how much money from the cities.
In a Right to Information reply, the SBI told ADR that 12,924 electoral bonds worth Rs 6,534 crore were raised from March 2018 to January 2021.
The highest value of bonds — Rs 2,256 crore — were sold in April 2019 and Rs 1,365 crore in March 2019 before the general elections.

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