Electoral bond scheme
Electoral bond scheme is a scheme announced during the 2017 Union Budget to enable anonymous donation of money to political parties. Electoral bonds are interest free bearer instruments that are sold in several denominations: Rs 1,000, Rs 10,000, Rs 1 lakh, Rs 10 lakh, and Rs 1 crore by the State Bank of India. No other bank is authorised to sell electoral bonds. The bond does not bear the name of the buyer or the payee.
Topics: Electoral bond scheme
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