Delhi Polls: Govt opens window for electoral bond sale

Delhi Polls: Govt opens window for electoral bond sale

"The State Bank of India (SBI) has been authorised to issue and encash electoral bonds through its 29 authorized branches with effect from January 13 to January 22," an official statement. Credit: Reuters

Ahead of Delhi Assembly elections, the Centre on Thursday announced opening another window for selling electoral bonds from January 13.

This is the 13th phase of the sale of electoral bonds after the controversial mode of the donation was introduced in 2018. This comes ahead of the Delhi Assembly election on February 8.

"The State Bank of India (SBI) has been authorised to issue and encash electoral bonds through its 29 authorized branches with effect from January 13 to January 22," an official statement.

"Electoral Bonds shall be valid for 15 calendar days from the date of issue and no payment shall be made to any payee political party if the electoral bond is deposited after expiry of the validity period. The electoral bond deposited by an eligible political party in its account shall be credited on the same day," it added.

As per provisions of the Scheme, electoral bonds can be purchased by an Indian citizen or a company incorporated or established in India. A person being an individual can buy Electoral Bonds, either singly or jointly with other individuals. Only parties registered under Section 29A of the Representation of the People Act, 1951 and which secured not less than 1% votes polled in the last General Election to Lok Sabha or the Legislative Assembly of the State, will be eligible to receive electoral bonds.

The Opposition had raised questions about the electoral bonds, saying it was "opaque" and designed largely to benefit the ruling BJP.

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