{"id":9679,"date":"2022-10-15T01:49:23","date_gmt":"2022-10-14T20:19:23","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=9679"},"modified":"2025-03-29T14:47:37","modified_gmt":"2025-03-29T09:17:37","slug":"electoral-bonds","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/electoral-bonds\/","title":{"rendered":"Electoral Bonds"},"content":{"rendered":"<h2><strong>About Electoral Bonds:<\/strong><\/h2>\n<ul>\n<li>The electoral bonds system was introduced in 2017 by way of a money bill introducing amendments in the Finance Act and the Representation of People Act.<\/li>\n<li>It was\u00a0<strong>implemented in 2018.<\/strong><\/li>\n<li>The electoral bonds are issued in multiples of Rs 1,000, Rs 10,000, Rs 1 lakh, Rs 10 lakh and Rs 1 crore.\u00a0<\/li>\n<li><strong>State Bank of India<\/strong>\u00a0is the only bank authorised to sell electoral bonds.<\/li>\n<li>Buyers can donate the bonds to a party of their choice and the bonds\u00a0have to be cashed by the party through its verified account within\u00a0<strong>15 days.<\/strong><\/li>\n<li>No payment shall be made to any political party if the electoral bond is deposited after expiry of the validity period of 15 days.<\/li>\n<li>Eligible political parties are allotted a verified account by the Election Commission of India (ECI) and the electoral bond transactions can be made only through this account.<\/li>\n<li>Buyers\u00a0of the bonds\u00a0have to submit full KYC details\u00a0at the time of buying. However, the\u00a0beneficiary political party is not required to reveal the identity of the entity\u00a0that has given it the bonds.<\/li>\n<\/ul>\n<h3><strong>Eligibility:<\/strong><\/h3>\n<ul>\n<li>Electoral Bonds can be\u00a0purchased by a person, who is a citizen of India or a company incorporated or established in India.<\/li>\n<li>Only political parties\u00a0registered under section 29A of the Representation of the Peoples Act, 1951 are eligible to receive electoral bonds.<\/li>\n<li>Further, in order to be eligible the party must have\u00a0secured at least one per cent of the votes polled in the most recent Lok Sabha or State elections.<\/li>\n<\/ul>\n<h3><strong>Duration of availability:<\/strong><\/h3>\n<ul>\n<li>The bonds are\u00a0available for purchase for a period of 10 days each in the beginning of every quarter, i.e. in\u00a0<strong>January, April, July and October<\/strong>, as specified by the Central Government.<\/li>\n<li>An\u00a0additional period of 30 days\u00a0shall be specified by the Central Government\u00a0in the year of Lok Sabha elections.<\/li>\n<li>However, there have been some occasions when the government has deviated from the specified schedule for issuance of these bonds.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<hr \/>\n<p><strong>Source :<\/strong><strong>\u00a0<\/strong><a href=\"https:\/\/www.thehindu.com\/news\/national\/does-electoral-bonds-system-provide-from-where-the-money-comes-sc-asks-government\/article66009637.ece\" target=\"_blank\" rel=\"nofollow noopener\">The Hindu<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Electoral bond is like a promissory note that can be bought by anyone incorporated in India from SBI.<\/p>\n","protected":false},"author":5,"featured_media":9680,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-9679","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-prelims-current-affairs","8":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/9679","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=9679"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/9679\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/9680"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=9679"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=9679"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=9679"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}