Electoral Bonds क्या है ?
All You Need to know about Electoral Bond, Current Affairs
What is an electoral bond?
An electoral bond is a non-redeemable debt instrument. It is a bearer banking instrument to be used for funding eligible parties.
An eligible political party is one which is registered under the constitution and has secured not less than 1% of the votes polled in the last general election — parliament or assembly.
Who are eligible to invest in such bonds and donate to political parties?
These rupee-denominated bonds can be purchased in Indian currency by any Indian citizen or trust, like the Hindu Undivided Family or a registered company.
These bonds are issued at the face value of Rs 1,000 and multiples.
How does the scheme function?
The only issuing authority of such bonds is the State Bank of India.
The bondholders and the beneficiary party need to have an account with the bank.
Those who do not have the account can pay the bank directly.
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