The Supreme Court is set to deliver its verdict today at 10:30 AM on the series of pleas challenging the legal validity of the electoral bonds scheme. Chief Justice of India DY Chandrachud will head the Supreme Court bench announcing the decision.
A five-judge constitutional bench, led by CJI Chandrachud, had earlier suggested exploring alternative systems for political party funding while addressing the flaws in the current setup. The electoral bonds scheme, launched in 2018, allows individuals or companies to purchase instruments from banks and present them to political parties for redemption.
The scheme was introduced to provide transparency to political funding by offering an alternative to cash donations. Only political parties registered under Section 29A of the Representation of the People Act, 1951, and securing at least 1% of the votes polled in the last elections are eligible to receive electoral bonds.
Stay tuned for live updates as the Supreme Court delivers its verdict on the electoral bonds case.
