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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/UTName Of The Branch & AddressBranch Code No.
1DelhiDelhi Main Branch00691
2Haryana, Punjab and ChandigarhChandigarh Main Branch00628
3Himachal PradeshShimla Main Branch00718
4Jammu and KashmirBadami Bagh (Srinagar) Branch02295
5UttarakhandDehra Dun Main Branch00630
6Gujarat, Dadar & Nagar Haveli and Daman & DiuGandhinagar Branch01355
7Madhya PradeshBhopal Main Branch01308
8ChhattisgarhRaipur Main Branch00461
9RajasthanJaipur Main Branch00656
10MaharashtraMumbai Main Branch00300
11Goa,LakshadweepPanaji Branch00509
12Uttar PradeshLucknow Main Branch00125
13OdishaBhubaneswar Main Branch00041
14West Bengal and Andaman & NicobarKolkata Main Branch00001
15BiharPatna Main Branch00152
16JharkhandRanchi Branch00167
17SikkimGangtok Branch00232
18Arunachal PradeshItanagar Branch06091
19NagalandKohima Branch00214
20AssamGuwahati Branch00078
21ManipurImphal Branch00092
22MeghalayaShilong Branch00181
23MizoramAizawl Branch01539
24TripuraAgartala Branch00002
25Andhra PradeshVisakhapatnam Branch00952
26TelanganaHyderabad Main Branch00847
27Tamil Nadu and PuducherryChennai Main Branch00800
28KarnatakaBengaluru Main Branch00813
29KeralaThiruvananthapuram Branch00941

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