Electoral Bearer Bond Scheme 2018 through SBI in January 2021
The Government of India has notified the Electoral Bond Scheme 2018 vide Gazette Notification No. 20 dated 2nd January 2018. As per provisions of the Scheme, Electoral Bonds may be purchased by a person (as defined in item No. 2 (d) of Gazette Notification), 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 Authorised Bank.
The State Bank of India (SBI), in the XV Phase of sale, has been authorised to issue and encash Electoral Bonds through its 29 Authorised Branches (as per list enclosed) w.e.f. 01.01.2021 to 10.01.2021.
The Electoral Bonds shall be valid for fifteen (15) calendar 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
29 Existing Authorized Branches
|Sl. No.||State/UT||Name of the Branch & Address||Branch Code No.|
|1||Delhi||Delhi Main Branch11, Parliament Street,New Delhi – 110001||00691|
|2||Haryana, Punjab and Chandigarh||Chandigarh Main BranchSCO 43-48, Banking Square, Sector-17B, Chandigarh, Distt: ChandigarhState: Chandigarh, Pin : 160017||00628|
|3||Himachal Pradesh||Shimla Main BranchNear Kali Bari Temple, The Mall, Shimla, District : ShimlaState: Himachal Pradesh,Pin : 171003||00718|
|4||Jammu and Kashmir||Badami Bagh (Srinagar) BranchBadami BaghCantonment, Srinagar, Kashmir|
Dist : Badgam,State: Jammu & Kashmir
Pin : 190001
|5||Uttarakhand||Dehra Dun Main Branch4, Convent Road, Dehradun Uttarakhand, District : Dehradun|
State: Uttarakhand Pin : 248001
|6||Gujarat, Dadar & Nagar Haveli and Daman & Diu||Gandhinagar Branch, I Floor, Zonal Office Sector|
10 B GandhinagarDistt: Gandhinagar,State : Gujarat Pin:382010.
|7||Madhya Pradesh||Bhopal Main Branch T.T.Nagar,Bhopal-462003, Bhopal, Madhya Pradesh,District : Bhopal,State: Madhya Pradesh,Pin : 462003||01308|
|8||Chhattisgarh||Raipur Main BranchP.B.NO.29/61,JaistambhChowk, Raipur,District : RaipurState : Chhatisgarh Pin: 492001||00461|
|9||Rajasthan||Jaipur Main BranchP.B.No.72, Sanganeri Gate|
Jaipur, Rajasthan District: Jaipur, State: Rajasthan.Pin : 302003
|10||Maharashtra||Mumbai Main BranchMumbai SamacharMarg|
Horniman Circle, Fort, Mumbai, Maharashtra Pin: 400001
|11||Goa,Lakshadweep||Panaji BranchOpp : Hotel Mandovi, Dayanand,DayanandBandodkarMarg,Panaji, Goa.|
District : North Goa,State : Goa, Pin: 403001
|12||Uttar Pradesh||Lucknow Main BranchTarawaliKothi, MotimahalMarg, Hazratganj, Lucknow, Uttar PradeshDistrict :Lucknow,State: Uttar Pradesh|
Pin : 226001
|13||Odisha||Bhubaneswar Main BranchP.B.NO.14, Bhubaneswar|
BhubaneswarDistrict : Khurda
State: Odisha, Pin : 751001
|14||West Bengal and Andaman & Nicobar||Kolkata Main BranchSamriddhiBhawan|
1, Strand Road, Kolkata, West Bengal, District :Kolkata.State: West Bengal. 3Pin : 700001
|15||Bihar||Patna Main BranchWest Gandhi Maidhan, Patna,Bihar. Pin: 800001||00152|
|16||Jharkhand||Ranchi BranchCourt Compound,Jharkhand, District : Ranchi,State: Jharkhand, Pin : 834001||00167|
|17||Sikkim||Gangtok BranchM G Marg, Gangtok SIKKIMDist: East SikkimState : Sikkim Pin : 737101||00232|
|18||Arunachal Pradesh||Itanagar BranchTT Marg,VIP Road Bank Tinali, Itanagar, Arunachal Pradesh District : PapumpareState : Arunachal PradeshPin : 791111||06091|
|19||Nagaland||Kohima BranchNear deputy commissioner’s officeKohimaNagaland Pin: 797001||00214|
|20||Assam||Guwahati BranchPan Bazar, MG Road,Kamrup, Guwahati, Pin: 781001||00078|
|21||Manipur||Imphal BranchM G Avenue, Imphal westManipurPin: 795001||00092|
|22||Meghalaya||Shilong BranchMG Road, Near General POShillong, District: Khasi Hills (E),Meghalaya, Pin: 793001||00181|
|23||Mizoram||Aizawl BranchSolomns caveDistrict: Aizawl, MizoramPin: 796001||01539|
|24||Tripura||Agartala BranchHari Ganga Basak road,AgartalaDistrict: Tripura (W), TripuraPin: 799001||00002|
|25||Andhra Pradesh||Visakhapatnam BranchRednam Gardens, Jail Road, Junction, Opp. Pages/Vodaphone Off, Visakhapatnam,District: VisakhapatnamState : Andhra PradeshPin : 530002||00952|
|26||Telangana||Hyderabad Main BranchBank Street, Koti, Hyderabad.|
District : Hyderabad
Pin : 500095
|27||Tamil Nadu and Puducherry||Chennai Main Branch336/166, Thambuchetty Street, Parrys, Chennai.State: Tamil Nadu|
Pin : 600001
|28||Karnataka||Bengaluru Main BranchPost Bag No.5310,St. Marks Road, Bangalore,District :Bangalore Urban,State: Karnataka, Pin : 560001||00813|
|29||Kerala||Thiruvananthapuram BranchP.B.No.14, M.G.Road, Thiruvananthapuram,|
District : Thiruvananthapuram,State: Kerala, Pin: 695001
Also read : Edelweiss Financial NCD December 2020 – Issue Date, Review & Interest Rates
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What is Electoral Bond?
Electoral Bond is a bearer Banking Instrument to be used for funding eligible Political Parties. An eligible Political Party is the one registered under Section 29A of the Representation of the People Act, 1951 (43 of 1951) and 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
What is the Validity / Maturity of Electoral Bonds?
The Electoral Bonds shall be valid for Fifteen Days from the Date of Issue ie: An Electoral Bond issued on 1St March 2018 will be valid upto 15th March 2018.
Can I redeem these Electoral Bonds in any Account?
No. The Electoral Bonds can be redeemed only by an eligible Political Party by depositing the same in their Designated Bank Account maintained with Authorised Bank
Who can purchase Electoral Bonds? Who is eligible to Donate through Electoral Bonds?
The Electoral Bonds under this Scheme may be purchased by a Person, who is a Citizen of India or Incorporated or Established in India. The definition of “Person” includes-
(i) an Individual;
(ii) a Hindu Undivided Family;
(iii) a Company;
(iv) a Firm;
(v) an Association of Persons or a Body of Individuals, whether incorporated or not;
(vi) every Artificial Juridical Person, not falling within any of the preceding subclauses; and
(vii) any Agency, Office or Branch owned or controlled by such person.
At what price the Electoral Bonds are sold? What are the Denominations or Face Value of Electoral Bonds?
The Electoral Bonds shall be issued in the denomination of Rs1000, Rs 10,000, Rs 1,00,000, Rs 10,00,000 and Rs 1,00,00,000
What are the Know-Your-Customer (KYC) norms for purchase of Electoral
The extant instructions issued by the Reserve Bank of India regarding Know Your Customer norms of a Bank’s customer shall apply for all Applicants of the Electoral Bonds. However, SBI as Authorised Bank may call for any additional Know Your Customer documents, if it deems necessary
What Documents I should carry for Purchasing Electoral Bonds?
In addition to Application Form and Pay-in-Slip, the Applicant should submit copy each of Citizenship Proof and KYC documents, alongwith originals
Can I use Electoral Bonds as collateral for loans?
Whether Nomination Facility is available for Electoral Bonds?
No such facility is available.
Source : PIB