Govt approves 19th tranche of electoral bonds; sale opens on January 1


Forward of assembly elections in 5 states, the federal government on Friday authorised issuance of the 19th tranche of electoral bonds which will probably be open on the market from January 1 to 10.

Electoral bonds have been pitched as a substitute for money donations made to political parties as a part of efforts to convey transparency in political funding. Nevertheless, Opposition events have been elevating considerations about alleged opaqueness in funding by such bonds.

(SBI), within the XIX Section of sale, has been authorised to subject and encash Electoral Bonds by its 29 Licensed Branches with impact from January 1 to January 10, 2022,” the finance ministry mentioned in an announcement.

The 29 specified SBI branches are in cities comparable to Lucknow, Shimla, Dehradun Kolkata, Guwahati, Chennai, Thiruvananthapuram, Patna, New Delhi, Chandigarh, Srinagar, Gandhinagar, Bhopal, Raipur, and Mumbai.

Meeting elections for five states– Uttar Pradesh, Uttarakhand, Punjab, Himachal Pradesh and Goa– are anticipated to be introduced subsequent month.

The sale of the primary batch of electoral bonds occurred from March 1-10, 2018. The 18th tranche of bond sale occurred from September 1 to September 10, 2021.

Based on provisions of the scheme, electoral bonds may be bought by an individual who’s a citizen of India or entities integrated or established in India. Registered political events which have secured not lower than 1 per cent of the votes polled within the final election of Lok Sabha or legislative meeting are eligible to obtain electoral bonds.

SBI is the one authorised financial institution to subject such bonds.

An electoral bond will probably be legitimate for 15 days from the date of subject. No fee can be made to any payee political get together if the bond is deposited after expiry of the validity interval, as per the assertion.

The bond deposited by any eligible political get together into its account can be credited on the identical day.

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