Supreme Court of India Strikes Down Electoral Bonds Scheme

In a move to enhance transparency, the court's decision aims to reduce corporate influence in politics and restore public trust in electoral funding.

The Supreme Court of India has struck down the electoral bonds scheme, citing concerns over transparency and the imbalance of power between corporate donors and voters.
This landmark decision reverses the most significant change to electoral finance laws in recent years, aiming to restore transparency and reduce corporate influence in politics.
Electoral bonds, designed as anonymous bearer instruments, have been criticized for obscuring the identities of political donors and giving asymmetric informational power to the government.
Investigative reports revealed that electoral bonds had serial numbers that could be tracked, raising concerns about the confidentiality promised by the scheme.
The ruling is expected to lead to a resurgence of smaller, undisclosed contributions, while reinstating spending caps on corporate donations.