The first batch of electoral bonds – Modi government’s new scheme for ‘transparent’ political funding – were released for ten days between 1-10 March. The Quint, with the help of a State Bank of India (SBI) employee, examined an original bond worth Rs 1 crore and can confirm that they are not serialised.

An implication of this, according to financial experts and Enforcement Directorate (ED) officers, could potential misuse of these bonds to channelise black money and further corruption.