ELECTORAL BONDS

About:

• Electoral bonds have been pitched as an alternative to cash donations made to political parties as part of efforts to bring transparency in political funding.
  
  
• One can purchase electoral bonds from select State Bank of India (SBI) branches across the country till 28 October. SBI is the only authorised bank to issue such bonds.
  
  
• Electoral bonds can be purchased by a person who is a citizen of India or incorporated or established in India. One can also buy electoral bonds jointly with other individuals.
  
  
• Only the Political Parties registered under Section 29A of the Representation of the People Act, 1951 (43 of 1951) and which secured not less than one % of the votes polled in the last General Election to the House of the People or the Legislative Assembly of the State, 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 authorised bank.