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With reference to the electoral bonds, consider the following statements:
1. They are redeemable in the designated account of a registered political party.
2. Donor’s name is mentioned on the bond.
Which of the statements given above is/are correct?
  • a)
    1 only
  • b)
    2 only
  • c)
    Both 1 and 2
  • d)
    Neither 1 nor 2
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
With reference to the electoral bonds, consider the following statemen...
The Jharkhand Mukti Morcha (JMM) is the first Political party in the country that has declared the name of the entity which made donations to it through electoral bonds, the Association for Democratic Reforms (ADR), a poll rights group, said.
  • A declaration of a ₹1 crore donation was made in the party’s 2019-20 contribution report, it added.
  • According to the contribution report of the ruling party in Jharkhand, the donation was made by aluminium and copper manufacturing company Hindalco.
  • The ADR, in a new report, said the most common source of income for national and regional political parties in 2019-20 were donations through electoral bonds.
  • Electoral bonds have been pitched as an alternative to cash donations made to political parties as part of efforts to bring transparency in political funding.
  • Given the anonymity provided to donors by the scheme, electoral bonds have emerged as the most popular channel of donations to parties in the last two years
These bonds are redeemable in the designated account of a registered political party. The bonds are available for purchase by any person (who is a citizen of India or incorporated or established in India) for a period of ten days each in the months of January, April, July and October as may be specified by the Central Government. A person being an individual can buy bonds, either singly or jointly with other individuals. Donor’s name is not mentioned on the bond.
Hence only statement 1 is correct.
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With reference to the electoral bonds, consider the following statements:1. They areredeemable in the designated account of aregistered political party.2. Donor’s name is mentioned on the bond.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'A'. Can you explain this answer?
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