India

ADR: Electoral bonds worth over Rs 6,000 crore sold so far

ADR: Electoral bonds worth over Rs 6,000 crore sold so far
electoral bond, electoral bonds sold, supreme court on electoral bond, supreme court refuses stay on electoral bond, Centre on electoral bond, election commission on electoral bond Of these, 12,173 bonds, worth Rs 6108.47 crore, were redeemed by political parties within the validity period.

A total of 12,313 electoral bonds worth Rs 6128.72 crore were sold since the inception of the scheme, an analysis by the Association for Democratic Reforms (ADR) states. Of these, 12,173 bonds, worth Rs 6108.47 crore, were redeemed by political parties within the validity period.

According to an RTI query filed by ADR, the highest sale of bonds was in Mumbai — 2,899 bonds worth Rs 1,879.96 crore (30.67%) — followed by 3,478 bonds worth Rs 1,440.337 crore (23.50%) in Kolkata and 1,630 bonds worth Rs 918.58 crore (15%) in New Delhi.

The data also reveals that 12,173 bonds worth Rs 6,108.47 crore were redeemed during the twelve phases and 59.20% of the total value of electoral bonds were redeemed in two months alone — March (phase VIII) and April 2019 (phase IX).

“Highest amount of bonds – 4,607 bonds worth Rs 2,251.32 crore (36.86%), were redeemed during phase IX in April ‘19, followed by 2,738 bonds worth Rs 1,364.69 crore (22.34%) encashed during phase VIII in March ‘19 and 1,153 bonds worth Rs 819.26 cr (13.41%) encashed in May ‘19,” the ADR analysis states.

The data shows that out of the 12,313 bonds sold during the twelve phases, 5,624 bonds (45.68%) were in the denomination of Rs 1 crore while 4,877 bonds (39.61%) were in the denomination of Rs 10 lakhs.