The finance ministry has announced that the sixth tranche of electoral bonds sale has been started and will continue for 10 days. Electoral bonds are being pitched as an alternative to cash donations made to political parties as part of efforts to bring transparency in political funding.
State Bank of India (SBI), in the sixth phase of sale, has been authorised to issue and encash electoral bonds through its 29 authorised branches. As per provisions of the scheme, electoral bonds may be purchased by a person, who is a citizen of India or entities incorporated or established in India. SBI is the only authorised bank to issue such bonds.
Source- The Economic Times