-
Electoral Bond is a financial instrument for making donations to eligible political parties.
-
The bonds are issued in multiples of Rs. 1,000, Rs. 10,000, Rs. 1 lakh, Rs. 10 lakh and Rs. 1 crore without any maximum limit.
-
State Bank of India is authorised to issue and encash these bonds, which are valid for fifteen days from the date of issuance.
-
These bonds are redeemable in the designated account of a registered political party.
-
The bonds are available for purchase by any person (who is a citizen of India or incorporated or established in India) for a period of ten days each in the months of January, April, July and October as may be specified by the Central Government.
-
A person being an individual can buy bonds, either singly or jointly with other individuals.
-
Donor’s name is not mentioned on the bond.
-
India is the first country in the world to have such unique bonds for electoral funding.
-
An individual can buy Electoral Bonds, either singly or jointly with other individuals.
-
Only registered political parties, that have secured not less than 1% of votes polled in last election of Lok Sabha or legislative assembly of state, will be eligible to receive electoral bonds.
-
The cash donation has been capped at Rs. 2000 and beyond that donations are via electoral bonds.