​Electoral Bonds to have validity period

Govt. is all set to introduce the ‘Electoral Bonds’, which was announced in Budget 2017 – 18. Well, foreseeing the dangers of misusing the same, govt. is likely to introduce a validity period for the bonds. As per the proposals, govt. might be introducing a 15 day validity period for such bonds, within which the bonds could be redeemed by political parties. That said, each electoral party would have a notified bank account, through which the bonds have to be redeemed. The move, according to the govt. is to curb the possibility of spread of black money, using the loopholes in en cashing ‘Electoral Bonds’. Providing complete anonymity of donors, it would be through the denomination of INR 1,000 and INR 5,000, which these schemes be introduced.