Opposition spreading falsehood on electoral bonds : Union Home Minister Amit Shah

Union Home Minister Amit Shah on Friday said that the now defunct electoral bond scheme was introduced to “wipe out black money” from the political funding process. This was Amit Shah’s first reaction after the Supreme Court scrapped the electoral bonds scheme.

Speaking at the India Today Conclave 2024, Amit Shah said now that the scheme has been scrapped, he fears that “black money” would return to the funding process.

The electoral bonds scheme, which was introduced in 2018, was struck down by the Supreme Court last month.

Amit Shah said while he did not want to make any comments on the Supreme Court’s order, he was ready to discuss the electoral bonds scheme and how it was introduced to wipe out black money.

The Home Minister said that before the scheme was implemented, donations to political parties were made through cash. After the scheme was launched, companies or individuals had to submit a cheque to the Reserve Bank of India to purchase bonds for donation to parties.