Electoral Bonds of India - Is it a Financial Scam?
Electoral Bonds of India is trending in the news headlines.
By the Supreme Court's order, the State Bank of India (SBI) shared details of Electoral Bonds with India's Election Commission (EC) on March 21, 2024. The EC uploaded the data for public viewing.
An investigative and independent journalist, Poonam Agarwal, exposed, shared, and explained detailed information about the bond certificates' hidden and unique identification numbers on her YouTube channel.
Video Source
A hidden unique number on the Electoral Bond can be read by illuminating it with an infrared light source.
All detailed information can be read by matching the number and the data of the Electoral Bond shared by the State Bank of India (SBI), which is available on the website of the Election Commission (EC) of India.
If SBI disclosed the data linked to the hidden numbers of the bonds, the citizens could read and know which political parties got donations, how much they were donated, and by which corporations these donations were made.
Video Source
It is a remarkable disclosure about the Electoral Bonds.
It is a starting point for an unfurling financial scam directly associated with India's government, the ruling political party, and prominent opposition political parties.
Is it a win for democracy for Indian citizens to have the right to view data on the electoral bonds—who paid and who purchased it?
Maybe it is the beginning of exposing a big scam in Indian politics and private companies. Many of these companies are new companies created to transfer (siphon) black money into politics.
Screenshot Source
The Supreme Court has ordered the SBI to disclose data with the identification numbers of the Electoral Bonds.
If SBI discloses further data regarding the hidden numbers on the Electoral Bonds, it will unfurl more information.
Kudos to Poonam Agarwal for her investigative journalism and her team.
An Electoral Bond is a "novel" (clever) financial instrument created during the reign of the ruling political party that can cunningly "legalize" the transferring of black money to political parties.
Now, let us see how much the mainstream news media propagate this huge financial scam information of the enormous political parties, including the ruling central and state governments.
<> Originally published in my LinkedIn blog.
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March 23, 2024
SBI shares electoral bond details with EC.Awesome