The sale of the first batch of electoral bonds took place from March 1-10, 2018New Delhi: Ahead of assembly elections in five states, the government on Thursday approved the issuance of the 19th tranche of electoral bonds, which will be open for sale from January 1 to 10.
Electoral bonds have actually been pitched as an alternative to cash contributions made to political parties as part of efforts to bring openness in political financing.
Nevertheless, Opposition celebrations have actually been raising issues about supposed opaqueness in funding through such bonds.
State Bank of India (SBI), in the XIX Stage of sale, has actually been authorised to release and encash Electoral Bonds through its 29 Licensed Branches with effect from January 1 to January 10, 2022, the finance ministry stated in a statement.The 29 specified SBI branches are in cities, such as Lucknow, Shimla, Dehradun Kolkata, Guwahati, Chennai, Thiruvananthapuram, Patna, New Delhi, Chandigarh, Srinagar, Gandhinagar, Bhopal, Raipur, and Mumbai.Assembly elections for 5 states-- Uttar Pradesh, Uttarakhand, Punjab, Himachal Pradesh and Goa-- are expected to be revealed next month.The sale of the very first batch of electoral bonds happened from March 1-10, 2018.
The 18th tranche of the bond sale took place from September 1 to September 10, 2021.
According to provisions of the plan, electoral bonds can be bought by a person who is a citizen of India or entities incorporated or developed in India.Registered political parties that have actually protected not less than 1 percent of the votes surveyed in the last election of Lok Sabha or legislative assembly are eligible to get electoral bonds.SBI is the only authorised bank to release such bonds.
An electoral bond will be valid for 15 days from the date of concern.
No payment would be made to any payee political party if the bond is deposited after the expiration of the credibility duration, as per the statement.The bond deposited by any qualified political party into its account would be credited on the very same day.