Explanation:

Recently in an affidavit filed in the Supreme Court, the Election Commission of India (ECI) aid that electoral bonds, contrary to government claims, hits transparency in political funding.
An electoral bond is designed to be a bearer instrument like a Promissory Note — in effect, it will be similar to a bank note that is payable to the bearer on demand and free of interest. It can be purchased by any citizen of India or a body incorporated in India. They can be bought for any value, in multiples of Rs 1,000, Rs 10,000, Rs 1 lakh, Rs 10 lakh or Rs 1 crore. The name of the donor will not be mentioned in the bond.