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HomeNationalSale of Election Bond starts from today, 29 SBI branches will be...

Sale of Election Bond starts from today, 29 SBI branches will be released

The opposition party criticized the electoral bonds as opaque. However, the Election Commission recently said that these bonds do not violate the model code of conduct, which is often due to the assembly elections.

SBI Bank

The 16th installment of sale of Electoral Bonds has started from 1st April i.e. today. The Union Finance Ministry on Tuesday approved the sale of the Election Bond. The Finance Ministry informed that the 16th series will be available for sale from April 1 to April 10.

Election bonds have been brought in the form of cash donations to bring transparency in the donations of political parties. Electoral bonds can be purchased by a person who according to the Ministry of Finance is a citizen of India or has grown up in India. The Supreme Court last month rejected a petition to ban the sale of these bonds in the wake of assembly elections in four states and one union territory of Puducherry.

The Supreme Court rejected the petition of the NGO Association for Democratic Reforms, saying that the Election Bond was being issued from 2018. The Election Bond was released in 2018, 2019, 2020. At present, there does not seem to be any proper reason to ban electoral bonds. During the hearing of the case, the Election Commission had said in the Supreme Court that they support the electoral bond scheme because if it does not happen then political parties will get the donations in cash.

Opposition party criticized electoral bond

According to government rules, political parties registered under Section 29A of the Representation of the People Act, 1951 (43 of 1951) and parties which had received one percent or more votes in the last general election and state assembly elections were required to obtain electoral bonds. Will be eligible for

The government has authorized the State Bank of India (SBI) to sell the 16th series of electoral bonds from April 1 to April 10, 2021 through 29 approved branches. The 15th installment of the electoral bond was sold between January 1 and January 10, 2021.

The opposition party criticized the electoral bond as opaque. However, the Election Commission recently said that these bonds do not violate the model code of conduct, which is often due to the assembly elections. It is known that in the first phase, the sale of electoral bonds was held between March 1 and March 10 on the year 2018.

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