Quick Summary
The Government of India has notified the Electoral Bond Scheme 2018 vide Gazette Notification No. 20 dated 2ndJanuary 2018. As per provisions of the Scheme, Electoral Bonds may be purchased by a person (as defined in item No. 2 (d) of Gazette Notification), who is a citizen of India or incorporated
Daily Limit Reached
You have reached your daily limit of 2 Free News
Subscribe to CCI PRO for unlimited access
Why Upgrade to CCI PRO?
- No Ads
- WhatsApp Broadcasts
- Daily E-Newsletter
- Unlimited News Access
BEST VALUE
2 YEAR PLAN
3,499
(Inclusive of GST)
1 YEAR PLAN
1,999
(Inclusive of GST)
View all CCI PRO benfits
Already a PRO member? Login here for an ad-free experience.
FAQ :
The Electoral Bond Scheme 2018, notified by the Government of India, allows citizens and entities incorporated in India to purchase electoral bonds. These bonds can then be donated to eligible political parties.
An Electoral Bond can be purchased by a person who is a citizen of India or is incorporated or established in India. Individuals can buy them singly or jointly.
Only political parties registered under Section 29A of the Representation of the People Act, 1951, and which secured at least one per cent of the votes in the last General Election to the House of the People or a State Legislative Assembly, are eligible to receive Electoral Bonds.
In the XV phase of sale, the State Bank of India (SBI) has been authorised to issue and encash Electoral Bonds through 29 of its authorised branches.
Electoral Bonds are valid for fifteen calendar days from the date they are issued. Payment will not be made if the bond is deposited after this expiry period.
Once an eligible political party deposits an Electoral Bond into its bank account, the amount shall be credited on the same day.
CAclubindia
