The Congress on Wednesday said that hiding the donor names of electoral bonds is a regressive step that will convert the process to the Narendra Modi government's "favourite colour black" and is meant to "stifle transparency"."Hiding donor names of electoral bonds is a regressive step that paints process of electoral funding to Modi government's favourite colour: BLACK!," said Congress spokesperson Randeep Singh Surjewala in a series of tweets."Is it meant to stifle 'transparency' & give unlimited access to ruling party to misuse information and state machinery to coerce donors!" he added.The government on Tuesday notified a scheme of electoral bonds in a bid to clean the system and bring transparency in political funding in the country.Announcing the launch of the scheme in Parliament, Finance Minister Arun Jaitley said these bonds will bring a substantial amount of transparency in political donations against the present system of contributions.The electoral bonds will be a bearer instrument in the nature of a promissory note and interest-free banking instrument which any citizen or a corporate body will be eligible to purchase.The purchaser would be allowed to buy the bonds after fulfilling the KYC norms and by making payment from a bank account. It will not carry the name of the payee.