Oct. 28, 2018

State Bank of India (SBI) in the 6th phase of sale, has been authorised to issue and encash Electoral Bonds through its 29 Authorised Branches w.e.f. 01.11.2018 to 10.11.2018.


  • Government of India notified the Electoral Bond Scheme 2018 in January 2018.

  • Features:
    • As per provisions of the Scheme, Electoral Bonds may be purchased by a person, who is a citizen of India or incorporated or established in India. A person being an individual can buy Electoral Bonds, either singly or jointly with other individuals.

    • Only the Political Parties registered under Section 29A of the Representation of the People Act, 1951 and which secured not less than one per cent of the votes polled in the last General Election to the Lok Sabha or the State Legislative Assembly, shall be eligible to receive the Electoral Bonds.

    • The Electoral Bonds shall be encashed by an eligible Political Party only through a Bank account with the Authorized Bank.

    • It may be noted that Electoral Bonds shall be valid for 15 calendar days from the date of issue and no payment shall be made to any payee Political Party if the Electoral Bond is deposited after expiry of the validity period.

Source : PIB