Electoral Bonds
- RTI enquiries have revealed recently that corporates are channelling large chunk of donation through electoral bonds nowadays.
- An electoral bond is a bearer instrument (without the name of the bond holder) like a Promissory Note —payable to the bearer on demand and free of interest.
- Any citizen of India or a body incorporated in India whose accounts are KYC compliant can purchase it.
- They are issued in multiples of Rs 1,000, Rs 10,000, Rs 1 lakh, Rs 10 lakh and Rs 1 crore and are available at specified branches of State Bank of India for purchase for a period of 10 days each ....
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