Electoral bonds

• Government has approved the 27^th sale of EBs from July 3, 2023.

ABOUT ELECTORAL BOND SCHEME

• EBs, introduced in 2017-18, as interest-free bearer instruments to cleanse the system of political funding in country.
• Only the political parties registered under Section 29A of the Representation of the People Act, 1951 and have secured not less than 1% of the votes polled in the last general election to the House of the People or the Legislative Assembly, are eligible to receive electoral bonds.
• EBs are valid for 15 days from the date of issue and can be purchased by a citizen of India or entities incorporated or established in India.
• Sold in multiples of Rs 1,000, Rs 10,000, Rs 1 lakh, Rs 10 lakh, and Rs 1 crore.
  • One can purchase these bonds only digitally or through cheques.
• SBI is the only bank authorised to sell them.
• The bonds are available for purchase by any citizen of 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.