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Forward of meeting elections in Gujarat and Himachal Pradesh, the federal government on Monday accepted issuance of the twenty third tranche of electoral bonds that may open on the market on November 9.
The Gujarat meeting elections might be held in two phases on December 1 and 5, whereas Himachal Pradesh will go to polls on November 12.
Electoral bonds have been pitched as a substitute for money donations made to political events as a part of efforts to convey transparency in political funding.
State Financial institution of India (SBI), within the twenty third section of sale, has been authorised to subject and encash electoral bonds via 29 authorised branches from November 9-15, the finance ministry stated in an announcement.
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Normally, electoral bond tranches are open on the market between 1-10 of a chosen month. As an example, the twenty second tranche of bond gross sales happened from October 1-10, 2022 whereas twenty first tranche was from July 1-10, 2022.
Sale of the primary batch of electoral bonds occurred from March 1-10, 2018.
The authorised SBI branches embody these in Lucknow, Shimla, Dehradun, Kolkata, Guwahati, Chennai, Patna, New Delhi, Chandigarh, Srinagar, Gandhinagar, Bhopal, Raipur, and Mumbai.
SBI is the one authorised financial institution to subject electoral bonds.
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An electoral bond might be legitimate for 15 days from the date of issuance. No fee could be made to any political celebration if the bond is deposited after expiry of the validity interval, the assertion stated.
Electoral bonds may be bought by Indian residents or entities included or established within the nation.
Registered political events which have secured not lower than 1 per cent of the votes polled within the final Lok Sabha or legislative meeting election are eligible to obtain funding via electoral bonds.
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