Government has authorized the issuance and encashment of Electoral Bonds through 29 authorized branches of State Bank of India from today till December 12.
The official notification by the finance ministry states that the electoral bonds will be valid for 15 days from the date of issue, and no payment will be made to any payee political party if the electoral bond is deposited after the expiry date.
It states that the electoral bond deposited by an eligible political party shall be deposited on the same day.
The government notified the Electoral Bond Scheme 2018 on January 2, 2018. As per the provisions, Electoral Bonds can be purchased by a person who is a citizen of India or incorporated or established in India. A person can purchase Electoral Bonds singly or jointly with other persons.
Political parties registered under section 29A of the Representation of the People Act, 1951, which have secured at least 1 per cent of the votes polled in the last general election to the House of the People or the Legislative Assembly of a State, shall be eligible to receive electoral bonds.
Electoral Bonds can be encashed by an eligible political party only through a bank account with an authorized bank.
Electoral Bonds can be encashed at the following SBI branches:
- Delhi – Parliament Street Branch
- Haryana, Punjab and Chandigarh – Chandigarh Main Branch
- Himachal Pradesh – Shimla Main Branch
- Jammu & Kashmir – Badami Bagh Branch, Srinagar
- Uttarakhand – Dehradun Main Branch
- Gujarat, Dadra & Nagar Haveli & Daman & Diu – Gandhinagar Branch
- Madhya Pradesh – Bhopal Main Branch
- Chhattisgarh – Raipur Main Branch
- Rajasthan-Jaipur Main Branch
- Maharashtra-Mumbai Main Branch
- Goa, Lakshadweep – Panaji Main Branch
- Uttar Pradesh – Lucknow Main Branch
- Odisha-Bhubaneswar Main Branch
- West Bengal & Andaman & Nicobar – Kolkata Main Branch
- Bihar-Patna Main Branch
- Jharkhand – Ranchi Main Branch
- Sikkim – Gangtok Branch
- Arunachal Pradesh – Itanagar Branch
- Nagaland-Kohima Branch
- Assam – Guwahati Branch
- Manipur – Imphal Branch
- Meghalaya – Shillong Branch
- Mizoram – Aizawl Branch
- Tripura – Agartala Branch
- Andhra Pradesh – Visakhapatnam Branch
- Telangana-Hyderabad Main Branch
- Tamil Nadu and Puducherry-Chennai main branch
- Karnataka – Bengaluru Main Branch
- Kerala – Thiruvananthapuram Branch
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