Electoral bonds will start today before Delhi elections

New Delhi, January 13, 2020 Monday

The State Bank of India (SBI) will resume selling of electoral bonds on Monday, which will run from January 13 to 22, which is a bond through which the common man, from the businessman to the ordinary, can also contribute transparently to any party.

So far, the Bharatiya Janata Party has received the largest contribution from this bond. The government launched it in 2018, with the government claiming to bring transparency in this fund to political parties.

What did the finance ministry say?

According to the notification issued by the finance department before the Delhi election, this time around January 13 to 22, SBI will sell the bond, and it can be surpassed by political parties within its time limit. This will be the 13th consecutive year, with the launch of electoral bonds in 2018.

What is this Electoral Bond?

The government launched the bond with the claim in 2018, which will increase transparency in political funding and bring in white money, allowing individuals, corporate and institutions to buy bonds and give funds to political parties, and political parties will get this bond by bank, and electoral 29 bonds of SBI. Sold by authorized banks, fund only by registered political parties Can be

The 29 branches of the State Bank of India have been selected to issue and surrender electoral bonds. Mumbai, the largest 30.67% of Mumbai's electoral bonds, was sold in Mumbai. Its largest share was 80.50% in Delhi.

What is the beauty of electoral bonds

Any donor can conceal his identity and purchase a crores of rupees worth of electoral bonds from the SBI and give it to the political party of his choice. This arrangement hides the identity of the donor, and it is also tax-exempt.

This bond will somehow work

A person can buy a bond from a group of people or from the fixed branches of SBI in the period of issue of corporate bonds. From the date of issuance, bonds issued with validity of 15 days are issued in multiples of one thousand, ten thousand, one lakh, one million and one crore rupees.

These bonds cannot be purchased in cash and the buyer has to fill in the KNOW YOUR CUSTOMER form in the bank, political parties can obtain cash in SBI by surpassing the bonds through their own account, ie the customer who gives the bond as a fund to the party, can do this in his SBI account. In any case, the party cannot be given cash in the form of a cash fund under any circumstances, and this money goes only to the account which they decide.

BJP got the highest amount of funds

According to a recent news, about 60 per cent of the funds were paid to the BJP through the first electoral bond before the 2019 Lok Sabha elections. It has contributed a total of Rs 2410 crore to the political parties, out of which the BJP alone received Rs 1,450 crore, Congress received Rs 383 crore.