twenty third tranche of electoral bonds open on the market forward of meeting polls

Forward of meeting elections in Gujarat and Himachal Pradesh, the twenty third tranche of electoral bonds opened on the market on Wednesday.

The bond sale will shut on November 15.

The Gujarat meeting elections can be held in two phases on December 1 and 5, whereas Himachal Pradesh will go to polls on November 12.

Electoral bonds have been pitched as an alternative choice to money donations made to political events as a part of efforts to carry transparency in political funding.

State Financial institution of India (SBI), within the twenty third section of sale, has been authorised to subject and encash electoral bonds by 29 authorised branches from November 9-15, the finance ministry had stated in an announcement earlier this week.

Normally, electoral bond tranches are open on the market between 1-10 of a delegated month. For example, the twenty second tranche of bond gross sales occurred from October 1-10, 2022 whereas twenty first tranche was from July 1-10, 2022.

Sale of the primary batch of electoral bonds occurred from March 1-10, 2018.

The authorised SBI branches embody these in Lucknow, Shimla, Dehradun, Kolkata, Guwahati, Chennai, Patna, New Delhi, Chandigarh, Srinagar, Gandhinagar, Bhopal, Raipur, and Mumbai.

SBI is the one authorised financial institution to subject electoral bonds.

An electoral bond can be legitimate for 15 days from the date of issuance. No fee could be made to any political occasion if the bond is deposited after expiry of the validity interval, the assertion stated.

Electoral bonds might be bought by Indian residents or entities included or established within the nation.

Registered political events which have secured not lower than 1 per cent of the votes polled within the final Lok Sabha or legislative meeting election are eligible to obtain funding by electoral bonds.