The Electoral Bond was designed to act as a bearer instrument and to source the funding of political parties. These bonds are issued in multiples of Rs.1000,Rs. 10,000, Rs. 1 lakh, Rs. 10 lakh and Rs. 1 crore. The bond could be purchased by any citizen of India or a body incorporated in India and donated to the party of their choice. The aim of the scheme was to -“cleanse political funding in the country” and to promote cashless economy.
Eligibility to Receive Electoral Bonds
