Electoral Bonds
What is an Electoral Bond?
- Electoral Bond is a financial instrument for making donations to political parties. It is a bond issued in the nature of promissory note which shall be a bearer banking instrument.
- The party can convert these bonds back into money via their bank accounts. It neither carries the name of the buyer nor the payee.
- Each political party would have to open designated accounts for this purpose, with banks mandated by the Reserve Bank of India.
Features of Electoral Bond Scheme 2018
- The Government notified the Electoral Bonds Scheme back in January 2018 as an alternative to ....
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