In the last month or so, ever since the State Bank of India was compelled by the Supreme Court of India to release information on donations via electoral bonds to political parties, emerging details have only confirmed the worst fears of naysayers in regulatory and policy-making institutions about the scheme before it was introduced by the Bharatiya Janata Party (BJP)-led government in 2018.

The stage is set for the 2024 Lok Sabha elections in India, with 543 seats up for grabs. Scheduled to begin on April 19 and conclude on June 1, the elections will unfold over seven phases, with results slated to be out on June 4. Prime Minister Modi has already kicked off his campaign, aiming for a repeat of his landslide victories in 2014 and 2019.