New DelhiOne hour ago
- copy link
The Union Finance Ministry on Tuesday announced the sale of electoral bonds from January 19 to 28 in 29 branches of SBI.
The sale of the 25th tranche of electoral bonds began on Thursday, a day after the Election Commission announced assembly elections in Tripura, Nagaland and Meghalaya in February. The Union Finance Ministry on Tuesday announced the sale of electoral bonds in 29 branches of the State Bank of India (SBI) from Thursday till January 28.
The Electoral Bonds will be valid for 15 days from the date of issue and political parties can deposit them in bank accounts at authorized branches as per the scheme of the government. Political parties registered under Section 29A of the Representation of the People Act, 1951 and who have secured at least one per cent of the votes polled in the last general election to the House of the People or the Legislative Assembly of a State are eligible to receive electoral bonds, the ministry statement said. Will be
SBI sold electoral bonds worth Rs 11,699.83 crore till 24th tranche
According to media reports, from the launch of the Electoral Bond Scheme in 2018 till the 24th tranche in December 2022, SBI had sold electoral bonds worth Rs 11,699.83 crore. SBI sold bonds worth Rs 232.10 crore in the 24th tranche. Of the total bonds sold so far, electoral bonds worth Rs 7,603.33 crore were redeemed in Delhi, where national parties have their accounts.
What is Electoral Bond?
In the 2017 budget, the then Finance Minister Arun Jaitley introduced the Electoral Bond Scheme. The Central Government notified it on 29 January 2018. This is a kind of promissory note. Also called bank note. Any Indian citizen or company can buy it. If you want to buy it, you will get it in the selected branch of State Bank of India. The buyer can donate this bond to the party of his choice. Only that party should be eligible for it.
How to know that the party to which you are donating is eligible?
The bond buyer can buy bonds ranging from Rs 1,000 to Rs 1 crore. The buyer has to give his full KYC details to the bank. The party to which the buyer wants to donate these bonds must have secured at least 1% of the votes cast in the last Lok Sabha or Assembly election. Within 15 days of donating the donor’s bond, it has to be encashed by the party through a bank account verified by the Election Commission.
Results will come on March 2 in all three states
The Election Commission on January 18 announced the dates for assembly elections in Tripura, Nagaland and Meghalaya. Voting will be held in Tripura on 16 February while in Nagaland and Meghalaya on 27 February. Counting of votes will be held in all the three states on March 2.
Other news related to electoral bonds…
Highest number of electoral bonds sold in Mumbai, revealed in RTI
Since the launch of the Electoral Bonds (EB) scheme in 2018, the highest number of bonds have been sold in Mumbai. Apart from this, Delhi is at number one in cashing. This big disclosure has been made in RTI. RTI was filed on behalf of Commodore Lokesh Batra (Retd) regarding Electoral Bonds. In response to this, SBI has released these figures on November 23, 2022. Read full news…
9,207 crore received from electoral bonds in 4 years
In the first 10 days of January 2022 itself, electoral bonds worth about Rs 1,213 crore have been sold from SBI to donate to political parties. In this way, in 4 years from 2018 till now, political parties have received Rs 9,207 crore as donations through electoral bonds. There is no trace of where this money came from and who gave it. Read full news…