Electoral bond funding through anonymous bearer instruments is unconstitutional, with fresh issuance prohibited and donor details subject to disclosure.

The Electoral Bond Scheme, 2018 was declared unconstitutional in 2024, and fresh issuance is prohibited. The scheme had provided for interest-free bearer instruments in the nature of promissory notes, valid for 15 days and carrying neither the donor's nor the payee's name. The Election Commission is to obtain and disclose donor and contribution details. Bonds within their validity period may be returned for refund to the purchaser; on failure, the amount is to be credited to the Prime Minister's Relief Fund.

---

---

---