BJP dismisses fresh criticism of electoral bonds, says new mechanism brought transparency

Dismissing the resurgent criticism of electoral bonds – introduced by the Modi government in its first term – the ruling BJP said the new political funding mechanism has brought in “transparency and accountability”, adding that it is in same trajectory of electoral reforms to bring transparency and remove black money from the system. “Electoral bonds have brought transparency and accountability to the system. It's in same trajectory of electoral reforms to bring transparency and remove black money from system. Electoral bonds have a KYC mechanism while old system had no way to assess donor credentials,” Union Railways Minister Piyush Goyal told reporters in Delhi. Congress is leading the criticism of electoral bonds as several party leaders including Manish Tewari and Shashi Tharoor who have said that it has the potential of influencing the ruling party through big corporations.