Electoral Bonds sale of the 26th tranche will start today

State Bank of India (SBI) has been authorized to issue electoral bonds through its 29 branches from Monday (today) and the sale will continue till April 12. Electoral bonds were introduced to “clean up the political finance system” in India.
The revenue release the 26th tranche comes ahead of the Karnataka assembly polls, which are being held in a single phase on May 10.
The bonds are available for purchase for a period of 10 days in the months of January, April, July and October as may be fixed by the Central Government.
As per the provisions, Electoral Bonds can be purchased by a person who is a citizen of India or is registered or established in India. A person who is an individual can purchase electoral bonds either individually or jointly with other individuals.
Electoral bonds can only be obtained by registered political parties that obtained at least one percent of the votes polled in the last general election to the House of the People or the State Legislature.
Electoral bonds are valid for a period of fifteen calendar days from the date of issue, and in case of depositing the electoral bond after the expiration date, no payment will be made to the recipient’s political party. The electoral bond submitted by the authorized political party to its account is credited on the same day.
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