Supreme Court verdict on electoral bonds

The Supreme Court on Friday pronounced its verdict on the legality of the electoral bonds scheme on Thursday.

The Supreme Court on Thursday said that if the identity of the purchasers of electoral bonds meant for transparent political funding is not known, then the efforts of the government to curtail black money in elections would be "futile".

The Centre vehemently supported the scheme saying that the purpose behind it is to eliminate the use of black money in elections and asked the court not to interfere with it at this stage and examine the whether it has worked or not only after the elections.

The top court reserved verdict on the plea of an NGO which has challenged the validity of the scheme and has sought that either the issuance of electoral bonds be stayed or the names of donors be made public to ensure transparency in the poll process.