‘Sale of first batch of electoral bonds from March 1-10’

The sale of first batch of electoral bonds will take place from March 1-10 at designated branches of State Bank of India, the Finance Ministry said on Thursday.

The Government had notified the Electoral Bond Scheme  on January 2 this year. As per provisions of the scheme, a person, who is a citizen of India or an entity incorporated/ established in India can purchase electoral bonds.

SBI has been allowed to issue and encash electoral bonds initially at its four authorised branches. The bonds will be sold at main branches of SBI in four metro cities – New Delhi, Mumbai, Kolkata and Chennai.  “The first issue of the scheme will be opened in March 2018 in place of January 2018 for the first quarter of 2018. Accordingly, the first sale of electoral bonds will commence from March 1, 2018 for a period of 10 days i.e. up to March 10, 2018,” the Ministry said in a statement.  The bond shall be encashed by an eligible political party only through a bank account with the authorised bank," the Ministry said .