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of <h1>Supreme Court Declares Electoral Bond Scheme Unconstitutional; Strikes Down Provisions in Key Acts, Halts Bond Issuance.</h1> The Electoral Bond Scheme, 2018 was introduced to reform political funding in India by allowing citizens and incorporated bodies to purchase bearer bonds for donations to political parties. These bonds, issued by the State Bank of India, are valid for 15 days and aim to maintain donor anonymity while ensuring transparency. However, a landmark Supreme Court judgment declared the scheme unconstitutional, striking down related provisions in the Representation of the People Act, Companies Act, Income Tax Act, and RBI Act. Consequently, the issuance of new bonds is prohibited, and existing bonds must be returned for refunds, with unreturned amounts directed to the Prime Minister's Relief Fund.
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