The finance ministry will on December 5 open a week-long window for the sale of electoral bonds through 29 branches of State Bank of India (SBI), which can sell and encash the instruments till December 12.
Notified in 2018 as a way of political funding, the Electoral Bond Scheme is an alternative to cash donations that allows donors to fund campaigns of parties of their choice through the purchase of bonds.
These bonds can be purchased by a person who is a citizen of India or incorporated or established in India. This is the 24th tranche of bonds to go on sale.
“State Bank of India (SBI), in the XXIV Phase of sale, has been authorised to issue and encash Electoral Bonds through its 29 Authorized Branches (as per list enclosed) w.e.f. 05.12.2022 to 12.12.2022,” the finance ministry said in a statement on December 3.