Currently, Electoral Bonds are a widely discussed topic.
Here, we've compiled some key facts about the Electoral Bonds Scheme.
1. Introduced: Electoral Bonds, introduced by the government in 2017 and formalized in 2018, aim to transform political funding.
2. Objective: Enhance transparency and accountability in political donations while safeguarding donor anonymity.
3. Nature: Electoral Bonds function as bearer instruments, functioning like interest-free banking tools.
4. Eligibility: Available for purchase by Indian citizens and domestically incorporated entities.
5. Denominations: Offered in various amounts ranging from Rs. 1,000 to Rs. 1 crore.
6. Purchase Points: Exclusively available at specified branches of the State Bank of India (SBI).
7. Purchase Criteria: Buyers of the bonds are required to submit complete KYC (Know Your Customer) details at the time of purchase.
8. Availability Period: These bonds can be purchasable from the State Bank of India during a specific 10-day window in each quarter (January, April, July, and October) of the financial year.
9.Encashment Process: Only eligible political parties can encash these bonds through designated bank accounts.
10. Life Span of Electoral Bonds: Electoral Bonds possess a short lifespan of 15 days.
11. Highest Funding Figures: The BJP reportedly received over ₹6,061 crore through electoral bonds, according to available data.
That covers the essential details of the Electoral Bonds Scheme. Click below for comprehensive information.