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Wednesday, August 17, 2022

Telling Numbers: Of Rs 6,000 crore electoral bonds, over half sold during 2019 polls

Under the scheme, bonds not encashed within the validity period of 15 days are to be deposited by the authorised bank with the Prime Minister’s Relief Fund.

By: Express News Service | New Delhi |
Updated: January 24, 2020 7:50:06 am
electoral bond, electoral bonds sold, electoral bond sold during 2019 polls, supreme court on electoral bond, centre on electoral bond, election commission on electoral bond Out of the total sale of Rs 6,128.72 core, bonds worth Rs 3,622.06 crore were sold in just two phases — March and April 2019, during the general elections.

Earlier this week, the Association for Democratic Reforms (ADR) released a report on the sale of electoral bonds since the scheme was launched in 2018 (The Indian Express, January 22). The report, based on a response to a query under the Right to Information (RTI) Act, said 12,313 electoral bonds worth Rs 6,128.72 crore were sold in 12 phases from March 2018 to October 2019, and political parties redeemed 12,173 of these for Rs 6,108.47 crore. This accounts for 99.67% of the total bond value.

Under the scheme, bonds not encashed within the validity period of 15 days are to be deposited by the authorised bank with the Prime Minister’s Relief Fund. “It is, therefore, likely that the remaining 140 bonds amounting to a total of Rs 20.25 crore were deposited in the PMRF,” the report observed.

Source: Association for Democratic Reforms

MARCH-APRIL 2019 PEAK: Out of the total sale of Rs 6,128.72 core, bonds worth Rs 3,622.06 crore were sold in just two phases — March and April 2019, during the general elections. This accounted for 59.1% of the sales. Of these bonds, 2,742 worth Rs 1365.69 cr (22.3%) were purchased in March 2019, and 4,681 worth Rs 2256.37 cr (36.8%) in April.

Source: Association for Democratic Reforms

MUMBAI MAXIMUM: Across phases, Mumbai witnessed the maximum sale (by value) of 2,899 bonds worth Rs 1879.96 crore (30.7%), followed by Kolkata with 3,478 bonds worth Rs 1440.34 crore, and New Delhi with 1,630 bonds worth Rs 918.58 crore.

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First published on: 24-01-2020 at 05:17:26 am
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