ECI's counsel Rakesh Dwivedi : Election Commission is supporting electoral bonds and not opposing it as such. Without electoral bonds, we will go back to earlier cash system, which was unaccounted.

Bonds is one step forward, as all transactions are through banking channels.

ECI's counsel Rakesh Dwivedi : But on the second aspect transparency, we want transparency. But that is a matter for final hearing. We are against stay of electoral bonds as then we will go back to the unacccounted cash system.

Bench reserves orders on the application for stay of electoral bonds.