Thread by @amishra77

This entire fracas on Electoral Bonds is exactly like the other fracas on EVMs - bogus.

Both the old systems - of cash donations (before electoral bonds) and paper ballot (before EVMs) benefited the corrupt rent seeking system of Congress. Now stopped. Hence the drama. 1/5

Before Electoral Bonds.

1) Donate in cash (below Rs.20,000), or
2) Donate by cheque

Theory: Donate in cheque, it is transparent and traceable.

Reality: No one really paid in cheque for fear of harassment by opposite party.

Result: Black money routed through cash donation. 2/5

Now government could allow existing corrupted system of donations to continue.Or clean it up.

In any new solution, what problems needed be solved?

1) Provide a solution for honest money to come in and yet prevent harassment
2) Reduce cash donations

Hence Electoral Bonds. 3/5

How are Electoral Bonds different?
1) Bonds purchased from only KYC bank accounts.HENCE CLEAN MONEY
2) No name on electoral bonds (unlike cheque).Thus, No Harassment
3) Audit trail for every donation
4) Cash donation limit reduced to Rs. 2,000
5) Shell companies role ends. 4/5

Essentially,success of Electoral Bonds has jolted the Congress ecosystem.
Earlier only mafia operators, comfortable with shell companies & cash donations ruled the roost.Naturally they favored the Congress.
Now clean money comes.Not a Congress territory.Hence the hue and cry.5/5