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19ṭh Tranche of Electoral Bonds

Electoral Bonds:

The 19ṭh tranche of electoral bonds, which have been pitched as an alternative to cash donations, were on sale, ahead of the upcoming Assembly elections in five States.

  • In the past, the Supreme Court has raised the possibility of misuse of money received by political parties through electoral bonds.
  • This may defeat the original idea of the introduction of these bonds to bring transparency in electoral funding and keep a check on the criminalization of politics.

About Electoral Bonds:

  • These 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 only redeemable in the designated account of a registered political party.
  • 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.
  • A person being an individual can buy bonds, either singly or jointly with other individuals.
  • The donor’s name is not mentioned on the bond.

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