Electoral Bonds
Electoral bonds are money instruments like promissory notes, which can be bought by companies and individuals in India from the State Bank of India (SBI) and donated to a political party, which can then encash these bonds.
- The bonds are only redeemable in the designated account of a registered political party.
- A person being an individual can buy bonds, either singly or jointly with other individuals.
- Electoral bonds are purchased anonymously by donors and are valid for 15 days from the date of issue.
- The bonds are issued by SBI in denominations of Rs 1,000, Rs 10,000, Rs 1 lakh, ....
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