Government Notifies Electoral Bond Scheme 2018

The Government notified the Electoral Bond Scheme 2018 via Gazette Notification. As per provisions of the Scheme, Electoral Bonds may be purchased by a person, 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 Representation of People Act, 1951 & which secured not less than 1% of the votes polled in last General Election or the Legislative Assembly of the State, shall be eligible to receive Electoral Bonds. Electoral Bonds shall be encashed by an eligible Political Party only through a Bank account with the Authorized Bank.
Source- DD News