By- Naiteek Bhatt
The Supreme Court has canceled the electoral bonds, terming them unconstitutional.
The Government of India has announced the Electoral Bond Scheme in the year 2017.
Electoral bonds were a financial instrument for making donations to political parties.
Any Citizen of India Could buy this bond from selected branches of SBI Bank.
In electoral bonds, a citizen could donate to any political party of his choice.
The duration of this bond was 15 days, in which the name of the prayer was kept anonymous.
These bonds could be purchased for any price ranging from Rs 1,000 to Rs 1 Crore.
These electoral bonds were available for purchase for 10 days in four months.
These four months include January, April, July and October.