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of <h1>Electoral Bond Scheme 2018: Key Definitions Explained, Including 'Electoral Bond' and 'Authorised Bank' Roles in Implementation.</h1> The Electoral Bond Scheme, 2018 defines key terms for its implementation. An 'electoral bond' is a promissory note-like bearer banking instrument without the buyer or payee's name. The 'authorised bank' is the State Bank of India, responsible for issuing and encashing these bonds at specified branches. An 'issuing branch' refers to designated branches of the authorised bank for this purpose. The term 'person' encompasses individuals, Hindu undivided families, companies, firms, associations of persons or bodies of individuals, artificial juridical persons, and any agency, office, or branch owned or controlled by such entities.
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