<h1>Electoral Bond Scheme regulates purchase and encashment through authorized bank branches, with strict validity and party eligibility rules.</h1> The Electoral Bond Scheme 2018 allows Indian citizens and entities incorporated/established in India to purchase bearer electoral bonds, while only political parties registered under the Representation of the People Act that secured at least one per cent of votes in the last relevant election may receive and encash them. Issuance and encashment occur solely through 29 designated State Bank of India branches during specified windows in March, April and May 2019. Each bond is valid for fifteen calendar days from issue; late deposits are not payable and eligible party deposits are credited the same day into the party's authorised bank account.