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Chidambaram calls electoral bonds ‘biggest scam of decade’

The electoral bonds scheme floated by the NDA government has come under scrutiny after reports revealed how the Finance Ministry brushed aside objections raised by institutions such as the RBI and the EC.

By: Express Web Desk | New Delhi | Published: November 23, 2019 9:46:48 pm
INX Media case: Chidambaram bail denied, ED & CBI knock on his door Former Union minister P Chidambaram’s tweet read, “If anyone is completely in the dark it will be the people of India. Long live transparency.”

Describing electoral bonds as the “biggest scam of the decade”, former finance minister and senior Congress leader P Chidambaram Saturday said the donor who did not donate to the BJP will be known to the party and if anyone will be completely in the dark, it is the people of India.

Electoral Bonds are the biggest scam of the decade. Purchasers will be known to the Bank and, therefore, to the Government. Donor will be known to the party (BJP) to which he donated,” Chidambaram, in a tweet posted by his family on his behalf, said. Chidambaram is presently lodged in Tihar jail in connection with the INX Media case.

“Donor who did not donate to the BJP will be known to the BJP. If anyone is completely in the dark it will be the people of India. Long live transparency!,” he added.

The electoral bonds scheme floated by the NDA government has come under scrutiny ever since a report by HuffPost India revealed how the Finance Ministry brushed aside objections raised by institutions such as the Reserve Bank of India and the Election Commission of India and pushed ahead with the scheme without addressing any of their concerns.

The Centre has been asserting that donor details will remain anonymous. However, State Bank of India (authorised to sell electoral bonds) uses an alphanumeric code to keep track of who bought how many bonds, and the political party to whom the bond was eventually donated. This mechanism of tracking these bonds, the documents reveal, was approved by the Finance Ministry. The rules governing electoral bonds require SBI to share this data with law enforcement agencies if required.

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