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State Bank of India to issue electoral bonds from Jan 1-10 State Bank of India

State Bank of India to issue electoral bonds from Jan 1-10

India Blooms News Service | @indiablooms | 29 Dec 2020, 06:36 pm

New Delhi/UNI: Electoral bonds will be issued by State Bank of India's 29 authorised branches across the country from January 1-10, 2021, the finance ministry said on Tuesday.

The bonds shall be encashed by an eligible political party only through a bank account with the authorised bank, said the ministry.

The bonds shall be valid for 15 calendar days from the date of issue and no payment shall be made to any payee political party if the electoral bond is deposited after expiry of the validity period.

The electoral bond deposited by an eligible political party in its account shall be credited on the same day.

The Government of India has notified the Electoral Bond Scheme 2018 through Gazette Notification on January 2,2018.