<h1>India Approves SBI to Handle Electoral Bonds July 1-10, 2019, in XI Phase of Scheme 2018.</h1> The Government of India has authorized the State Bank of India (SBI) to issue and encash Electoral Bonds through 29 designated branches from July 1 to July 10, 2019, as part of the XI Phase of the Electoral Bond Scheme 2018. These bonds can be purchased by Indian citizens or entities and are valid for 15 days from the date of issue. Only political parties registered under Section 29A of the Representation of the People Act, 1951, and securing at least one percent of votes in the last general elections, can encash these bonds through an authorized bank account.