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Government of India has notified the Electoral Bond Scheme 2018 vide Gazette Notification No. 20 dated 02nd January 2018. As per provisions of the Scheme, Electoral Bonds may be purchased by a person, who is a citizen of India or incorporated or established in India. A person being an individual can buy Electoral Bonds, either singly or jointly with other individuals. Only the Political Parties registered under Section 29A of the Representation of the People Act, 1951 (43 of 1951) and which secured not less than one per cent of the votes polled in the last General Election to the House of the People or the Legislative Assembly of the State, shall be eligible to receive the Electoral Bonds. The Electoral Bonds shall be encashed by an eligible Political Party only through a Bank account with the Authorized Bank.
2. State Bank of India (SBI), in the 2nd Phase of sale, has been authorised to issue and encash Electoral Bonds through its 11 Authorised Branches (as per list enclosed) w.e.f. 02.04.2018 to 10.04.2018.
3. It may be noted that Electoral Bonds shall be valid for fifteen days from the date of issue and no payment shall be made to any payee Political Party if the Electoral Bond is deposited after expiry of the validity period. The Electoral Bond deposited by an eligible Political Party in its account shall be credited on the same day.
Electoral Bond Scheme – 2018
Phase II : April 02-10, 2018
Proposed Authorized Branches
Sl. No. | State | Name Of The Branch & Address | Branch Code No. | Existing / New |
1 | Delhi | New Delhi Main Branch, 11, Parliament Street, New Delhi – 110001 | 00691 | Existing |
2 | Gujarat | Gandhinagar Branch, I Floor, Zonal Office Sector | 01355 | New |
3 | Haryana And Punjab | Chandigarh Main Branch, SCO 43-48, Banking Square, Sector-17B, Chandigarh, Distt: Chandigarh State: Chandigarh, Pin : 160017 | 00628 | New |
4 | Karnataka | Bangalore Main Branch, Post Bag No.5310, St. Marks Road, Bangalore, District :Bangalore Urban, State: Karnataka, Pin : 560001 | 00813 | New |
5 | Madhya Pradesh | Bhopal Main Branch, T.T.Nagar,Bhopal-462003, Bhopal, Madhya Pradesh, District : Bhopal, State: Madhya Pradesh. Pin : 462003 | 01308 | New |
6 | Maharashtra | Mumbai Main Branch, Mumbai Samachar Marg | 00300
| Existing |
7 | Rajasthan | Jaipur Main Branch,P.B.NO.72, Sanganeri Gate | 00656 | New |
8 | Tamil Nadu | Chennai Main Branch,336/166, Thambuchetty Street, Parrys, Chennai. State: Tamil Nadu | 00800 | Existing |
9 | Uttar Pradesh | Lucknow Main Branch, Tarawali Kothi, Motimahal Marg, Hazratganj, Lucknow, Uttar Pradesh District :Lucknow, State: Uttar Pradesh Pin : 226001 | 00125 | New |
10 | West Bengal | Kolkata Main Branch, Samriddhi Bhawan | 00001 | Existing |
11 | Assam, Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura | Guwahati Branch, Pan Bazar, MG Road, Kamrup, Guwahati Pin: 781001 | 00078 | New |
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