Government of India has notified the Electoral Bond Scheme 2018 vide Gazette Notification No. 20 dated 02nd 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 Authorized Bank.
State Bank of India (SBI) has been authorized to issue and encash Electoral Bonds through its 29 Authorized Branches (as per list enclosed) in the months of March, April and May 2019 as per below mentioned schedule.
i) 01.03.2019 to 15.03.2019
ii) 01.04.2019 to 20.04.2019
iii) 06.05.2019 to 15.05.2019
The Electoral Bonds shall be valid for fifteen 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 Bearer Bond Scheme – 2018
Authorized Branch of State Bank of India
Name Of The Branch & Address
Branch Code No.
New Delhi Main Branch,
11, Parliament Street, New Delhi – 110001
Haryana, Punjab and Chandigarh
Chandigarh Main Branch,
SCO 43-48, Banking Square,
Sector-17B, Chandigarh, State: Chandigarh,
Pin : 160017
Shimla Main Branch
Near Kali Bari Temple, The Mall, Shimla
Himachal Pradesh, District : Shimla
State: Himachal Pradesh, Pin : 171003
Badami Bagh (Srinagar) Branch
Badami Bagh Cantonment, Srinagar, Kashmir
Dist : Badgam, State: Jammu & Kashmir
Pin : 190001
Dehra Dun Main Branch
4, Convent Road, Dehradun
Uttarakhand , State: Uttarakhand Pin : 248001
Gujarat, Dadar & Nagar Haveli
and Daman & Diu
Gandhinagar Branch, I Floor,
Zonal Office, Sector 10 B Gandhinagar
Distt: Gandhinagar, Gujarat. Pin: 382010.
Bhopal Main Branch,
Madhya Pradesh, District : Bhopal,
State: Madhya Pradesh. Pin : 462003
Raipur Main Branch
P.B.N0.29/61, Jaistambh Chowk, Raipur,
District : Raipur, State : Chhatisgarh, Pin: 492001
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