Govt clears 24th tranche of Electoral bonds!!!

Electoral Bonds were issued by the central government to give donations to political parties in the country. The government keeps issuing them from time to time. The 24th payment of Electoral Bonds may now be issued with approval from the central government. If a person wants to invest in them, he can buy them from 5th December. What are these bonds and why was there a need to bring them? Let's understand in detail.

What is Electoral or Electoral Bond?

In order to bring transparency in the donations received by political parties, the Modi government started issuing electoral bonds in 2018. A person, organisation, or corporation may purchase this bond. By paying this bond to the bank, the political organisation may withdraw funds. It is important to note that banks only sell these electoral bonds to consumers who have had their KYC verified. Through the relationship, the donor's identity is kept private.

Only bank of india-Latest Updates, Photos, Videos are a click away, CLICK NOW'>state bank of india i.e. sbi has been authorized to sell electoral bonds in the country. They can be bought from the major branches of this bank present across the country. You can buy them from sbi branch in most of the capitals. The validity of this bond is only 15 days from the date of its issue. Political parties won't receive the bond's value if it is deposited in a bank after its expiration date has passed. Additionally, only those political parties that were successful in receiving up to 1% of the total vote in the most recent lok sabha or state elections are permitted to issue their electoral bonds.

When can I buy electoral bonds?

Beginning on december 5, 2022, the 24th instalment of electoral bonds will be available for purchase. By 12 december 2022, anyone wishes to purchase it may do so at the state bank branch. Let us remind you that the 23rd instalment of Electoral Bonds began on november 9 and ran until november 15.