The Supreme Court of India recently declared the Electoral Bond system of campaign financing, introduced by the Modi government in 2017, as unconstitutional. This system allowed individuals and companies to donate money to political parties anonymously and without limits, raising concerns about undue influence over policymaking. The court’s ruling emphasized the need for transparency in political funding to uphold democratic principles.
Following the ruling, the State Bank of India (SBI) was ordered to provide all records regarding electoral bonds to the Election Commission of India.