Considering the glaring lack of specifics in the names of purchasers of electoral bonds, it is obvious that the scheme was not devised to be as transparent about funding of political parties as claimed.

The naïve small fry whose names are listed among the top donors, acted innocently, on a purely quid pro quo basis, and were easily exposed. The big players of Indian industry have long understood the rules of the game.

Favours of all kinds to politicians have to be disguised under veils of secrecy, so that it is difficult to point a finger. In this context, it is relevant to recall a letter written by JRD Tata, one of India’s most upright businessmen, to Pandit Nehru. JRD was a rare Indian businessman who did not try to cover his tracks.

In 1961, elder statesman C Rajagopalachari wrote to JRD, requesting for a contribution to the newly founded the Swatantra Party. JRD wrote that though he was aware the Tatas funded the Congress, he felt it was the business group’s patriotic duty to also fund the Opposition since no democracy thrives in the absence of a strong Opposition.

Unlike his fellow businessmen who funded the Swatantra Party surreptitiously, JRD wrote frankly to Nehru that he would also be donating to the Swatantra Party since it was the only........

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