Process to Use Electoral Bonds
Below is the process to use the electoral bonds :
- The 1,000, 10,000, 1 lakh, 10 lakh, and 1 crore Electoral Bonds can all be issued in multiples of that amount. The maximum amount of electoral bonds is one crore rupees.
- The State Bank of India issues the electoral bonds, which a donor with a KYC-compliant account can eventually buy.
- The bonds may be bought by the donor alone or in partnership with other people. After that, he or she is free to donate these bonds to any group or person they choose.
- Using their confirmed account, the party can now cash the bonds.
- The electoral bonds are only valid for 15 days.
Electoral Bonds
Electoral bonds were introduced with the Finance Bill of 2017. They are securities or instruments that are used to make financial contributions to political parties. Notification of the Electoral Bonds came out in 2018.
In this article, we will learn about Electoral Bonds in detail, including their scheme, recent update, eligibility, advantages, and disadvantages.
Table of Content
- What are Electoral Bonds?
- Electoral Bonds Scheme in India
- Supreme Court Declared Electoral Bonds Unconstitutional
- Electoral Bonds Under Scrutiny in Supreme Court
- Supreme Court’s Hearing on Electoral Bonds Scheme
- Eligibility for Electoral Bonds Scheme