The government has authorised the issue and encashment of electoral bonds through 29 authorised branches of State Bank of India, starting today till December 12.
The official notification by the Ministry of Finance stated 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.
The electoral bond deposited by the eligible political party will be credited on the same day, it said.
The government notified the Electoral Bond Scheme 2018 on January 2, 2018. As per the provisions, electoral bonds may be purchased by a person who is a citizen of India or incorporated or established in India. An individual can buy electoral bonds either singly or jointly with other individuals.
Only political parties registered under Section 29A of the Representation of the People Act, 1951, that has secured not less than 1 per cent of the votes in the last general election to the House of People or the Legislative Assembly of the state will be eligible to receive electoral bonds.
The electoral bonds can be encashed by an eligible political party only through a bank account with the authorised bank.
The electoral bonds can be encashed in the following SBI branches:
- Delhi – Parliament Street branch
- Haryana, Punjab and Chandigarh – Chandigarh main branch
- Himachal Pradesh – Shimla main branch
- Jammu and Kashmir – Badami Bagh branch, Srinagar
- Uttarakhand – Dehradun main branch
- Gujarat, Dadar & Nagar Haveli and 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 and 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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