Electoral Bearer Bond Scheme 2018

• Union government has notified the Electoral Bearer Bond Scheme 2018.
• As per this scheme , the bonds can be purchased by  person who is citizen of India or incorporated or established in India.
• Electoral Bonds can buy either singly or jointly with any other individual.
• State Bank of India is authorised to issue and encash Electoral Bonds in its 4 authorised Branches.
• The First issue will start from 1st March 2018. 

Who can accept the Electoral Bond?

Electoral bonds can be receive only by the political party which is registered under section 29A  of the Representation of the People Act, 1951 (43 of 1951) and which secured not less than 1 % of vote polled in previous election to Lokh Sabha or legislative assembly of state.

How Electoral Bonds work?

• If person wants to donate money to any political party, he can buy Electoral bonds from notified bank by making payment .
• Then you can gift this bond to political party.
• Then Political party will convert this bond back to money. 

This helps to curb the black money floating in way of donation to Political Party.