The Trinamool Congress was the second biggest reciever of funds through electoral bonds between 2019 and 2024. It encashed bonds worth Rs 1,609 crore during the period in total.
According to the Indian Express, the redemption of bonds by the Mamamta-Banerjee led party increased after it won the assembly elections in West Bengal in 2021.
The newspaper reported that the TMC encashed bonds amounting to Rs 43.4 crore between October-November 2020 and January 2021. In April 2021, it used bonds worth Rs 55.44 crore.
The TMC won the elections in May and in July 2021 it redeemed bonds totalling Rs 107.56 crore. The figure rose to Rs 141.92 crore in October 2021 and Rs 224 crore in January 2022.