On the fourth day of the winter session of Parliament, Congress has given Adjournment Motion Notice in the Lower House of Parliament, Lok Sabha over the ‘lack of transparency in the entire scheme of electoral bonds’, ANI reported.
The party has demanded full transparency and disclosure of all details about the electoral bonds before the Parliament of India. Congress alleged that the scheme resulted in Money Laundering and has destroyed the transparency in the funding of all the political parties.
India’s Central Bank, Reserve Bank of India had warned the Central Government about Poll bonds. “The problem with these instruments is that, while the information of the person who is buying a bond is known (to the bank), the donors’ identity is not known. This is because these are bearer bonds” – According to central banking sources.
Former finance minister Arun Jaitley announced the idea of electoral bonds in his Budget (2017-18) speech made on February 1, 2017, and the scheme was notified by the government in January 2018.
Congress on the first day of the Winter Session in Parliament allegedly condemned Central Government for overruling RBI. They said BJP Government introduced electoral bonds for their benefit and to enable “black money to enter their BJP coffers” and described the scheme as “opaque” promoting “money laundering”. Congress demanded to scrap the scheme and public the names of the people who bought these bonds.