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7th Phase Of Electoral Bonds To Go On Sale From 1 Jan

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The sale of the seventh tranche of electoral bonds will take place between 1 to 10 January, the Finance Ministry said in a statement on Thursday.

Electoral bonds are alternatives to cash donations made to political parties that were introduced in 2018 as part of the government's efforts to bring transparency in political funding. These are short-term bonds that are valid for 15 calendar days, where the holders do not earn any interest (coupon rate).

7th Phase Of Electoral Bonds To Go On Sale From 1 Jan
 

"The State Bank of India (SBI), in the VII Phase of sale of Electoral Bonds, has been authorised to issue and encash Electoral Bonds through its 29 Authorised Branches w.e.f. January 01 - 10, 2019," the statement said.

In the last six phases till November 2018, electoral bonds aggregated up to Rs 1,056.73 crore from purchases made by citizens or entities.

As per provisions of the scheme, electoral bonds may be purchased by a person, who is a citizen of India or entities incorporated or established in India. "It may be noted that Electoral Bonds shall be valid for fifteen 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 statement said.

SBI is the only authorised bank to issue such bonds. Here are the names of the 29 authorized SBI branches where you can make such a purchase either singly or jointly, with other individuals.

Sl. No. State/UT Name Of The Branch & Address Branch Code No.
1 Delhi Delhi Main Branch 00691
2 Haryana, Punjab and Chandigarh Chandigarh Main Branch 00628
3 Himachal Pradesh Shimla Main Branch 00718
4 Jammu and Kashmir Badami Bagh (Srinagar) Branch 02295
5 Uttarakhand Dehra Dun Main Branch 00630
6 Gujarat, Dadar & Nagar Haveli and Daman & Diu Gandhinagar Branch 01355
7 Madhya Pradesh Bhopal Main Branch 01308
8 Chhattisgarh Raipur Main Branch 00461
9 Rajasthan Jaipur Main Branch 00656
10 Maharashtra Mumbai Main Branch 00300
11 Goa,Lakshadweep Panaji Branch 00509
12 Uttar Pradesh Lucknow Main Branch 00125
13 Odisha Bhubaneswar Main Branch 00041
14 West Bengal and Andaman & Nicobar Kolkata Main Branch 00001
15 Bihar Patna Main Branch 00152
16 Jharkhand Ranchi Branch 00167
17 Sikkim Gangtok Branch 00232
18 Arunachal Pradesh Itanagar Branch 06091
19 Nagaland Kohima Branch 00214
20 Assam Guwahati Branch 00078
21 Manipur Imphal Branch 00092
22 Meghalaya Shilong Branch 00181
23 Mizoram Aizawl Branch 01539
24 Tripura Agartala Branch 00002
25 Andhra Pradesh Visakhapatnam Branch 00952
26 Telangana Hyderabad Main Branch 00847
27 Tamil Nadu and Puducherry Chennai Main Branch 00800
28 Karnataka Bengaluru Main Branch 00813
29 Kerala Thiruvananthapuram Branch 00941

Read more about: electoral bonds
Story first published: Friday, December 28, 2018, 13:33 [IST]
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