Electoral Bonds: Before the assembly elections, the central government has approved to bring the 19th batch of electoral bonds.
Electoral Bonds: There are assembly elections in five states including UP-Punjab next year. The purchase of electoral bonds to donate to their favorite political parties will start on the first day of next year i.e. tomorrow, January 1. Ahead of the assembly elections, the central government on Thursday (December 30) has approved to bring the 19th consignment of electoral bonds. These bonds will be available for sale from January 1 to January 10.
Electoral bonds were introduced as an alternative to cash donations to ensure transparency in donations to political parties. However, opposition parties have been continuously raising questions about the opacity in funding through these bonds. In January next month, elections can be announced in Uttar Pradesh, Punjab, Uttarakhand, Himachal Pradesh and Goa.
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You will be able to buy Electoral Bonds from 29 branches of SBI
The country’s largest bank SBI has been authorized to sell these bonds. The sale of Electoral Bonds of the 19th phase will be done through 29 branches of the bank across the country. The Finance Ministry has given this information in its statement. These 29 branches are located in cities like Lucknow, Shimla, Dehradun, Kolkata, Guwahati, Chennai, Thiruvananthapuram, Patna, New Delhi, Chandigarh, Srinagar, Gandhinagar, Bhopal, Raipur and Mumbai.
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Electoral bonds were first issued in 2018
- For the first time these electoral bonds were brought between 1-10 March 2018 while the 18th batch was brought between 1-10 September 2021.
- Under this scheme, any citizen of India or any company of the country can buy electoral bonds.
- Only those registered political parties, which got more than one percent votes in the last Lok Sabha or Vidhan Sabha elections, can get election donations through electoral bonds.
- Only SBI has the right to issue these bonds.
- These bonds are valid for 15 days from the date of issue. If political parties submit it after 15 days, then they will not get the money received in the form of donations.
- The day the political parties deposit it, money will be credited in their account on the same day.
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