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The anonymous bonds that made 95% of donations vanish

A businessman buys 100 crore in electoral bonds days after a raid - the bonds have no name. How did electoral finance become invisible?

The anonymous bonds that made 95% of donations vanish

This episode explores the system of electoral bonds in India, designed to formalize political donations but which ultimately made a significant portion of funding untraceable. It examines the tension between a real problem and a solution that made the problem worse and invisible.

Period: 2018-2024

Amount: 9,857 crore rupees

Instrument: Electoral bonds

Initial Problem: 69% of political party income from…

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