Electoral Bonds are 'biggest scam of decade': Chidambaram

"Electoral Bonds are the biggest scam of the decade," he said in a tweet posted by his family on his behalf.

Chidambaram, who is lodged in jail in cases of corruption and money laundering,  said purchasers will be known to the bank and, therefore, to the government.

"Donor will be known to the party (BJP) to which he donated. Donor who did not donate to the BJP will be known to the BJP. If anyone is completely in the dark it will be the people of India. Long live transparency!" the former Union finance minister said.

A political row has erupted over the use of electoral bonds for donations to political parties, with the Congress terming them a "threat to democracy" because of anonymity about donors and donees.

The BJP on the other hand has asserted that these bonds have curbed black money and ushered in honest and tax-paid money in political funding.