Government of India approves 19th Tranche of Electoral Bonds, sale to start from Jan 1
- ByTejika Bajaj | December 31, 2021
The Government of India has recently approved the 19th tranche of electoral bonds, the sale of which is to take place during 1-10 January, 2022. This announcement comes amidst elections in five states. The State Bank of India would be the official authority to allot and encash the electoral bonds.
The issuance of electoral bonds has been pitched as an alternative for cash donations received by political parties in an attempt to bring transparency amongst political funding. Though there have been certain speculations surrounding the opaqueness of the system, the emergence of electoral bonds are a major breakthrough in the system.
“State Bank of India , in the 19th phase of sale, has been authorised to issue and encash Electoral Bonds through its 29 Authorized Branches with effect from January 1 to January 10, 2022,” the finance ministry said in a statement.
The 29 authorized branches which would be offering these electoral bonds would be located in the prime cities of Lucknow, Shimla, Dehradun, Kolkata, Guwahati, Chennai, Thiruvananthapuram, Patna, New Delhi, Mumbai among others.
Electoral bonds can be purchased by any citizen of India or entities which are either incorporated or established in India. Only the regional political parties who have secured at least 1% votes are eligible to issue these bonds.
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