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Economy
Mahesh

01/10/22 13:35 PM IST

Govt authorises SBI to issue electoral bonds between Oct 1-10

In News 
  • The State Bank of India (SBI) has been authorised to issue and encash electoral bonds through its 29 branches between October 1-10.
About the scheme 
  • Electoral Bonds may be purchased by a person who is a citizen of India or incorporated or established in India.
  • A person being an individual can buy Electoral Bonds, either singly or jointly with other individuals.
  • Political Parties registered under Section 29A of the Representation of the People Act, 1951: Which secured not less than one percent of the votes polled in the last General Election to the House of the People or the Legislative Assembly of the State.
  • Authorized bank: The Electoral Bonds shall be encashed by an eligible Political Party only through a Bank account with the Authorized Bank.
  • State Bank of India (SBI): It has been authorized to issue and encash Electoral Bonds.
Source- PIB 

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