Electoral Bond Scheme 2018

Ministry of Finance28-March, 2018 17:15 IST

Electoral Bond Scheme 2018

Sale of Electoral Bonds at Authorised Branches of State Bank of India (SBI)

Government of India has notified the Electoral Bond Scheme 2018 vide Gazette Notification No. 20 dated 02^nd January 2018. 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 the Representation of the People Act, 1951 (43 of 1951) and which secured not less than one per cent of the votes polled in the last General Election to the House of the People or the Legislative Assembly of the State, shall be eligible to receive the Electoral Bonds. The Electoral Bonds shall be encashed by an eligible Political Party only through a Bank account with the Authorized Bank.

 2. State Bank of India (SBI), in the 2^nd Phase of sale, has been authorised to issue and encash Electoral Bonds through its 11 Authorised Branches (as per list enclosed) w.e.f. 02.04.2018 to 10.04.2018.

 3. It may be noted that Electoral Bonds shall be valid for fifteen days from the date of issue and no payment shall be made to any payee Political Party if the Electoral Bond is deposited after expiry of the validity period. The Electoral Bond deposited by an eligible Political Party in its account shall be credited on the same day.

Electoral Bond Scheme – 2018

Phase II : April 02-10, 2018

Proposed Authorized Branches

Sl. No.	State	Name Of The Branch & Address	Branch Code No.	Existing / New
1	Delhi	New Delhi Main Branch, 11, Parliament Street, New Delhi – 110001	00691	Existing
2	Gujarat	Gandhinagar Branch, I Floor, Zonal Office Sector 10 B Gandhinagar Distt:Gandhinagar,Gujarat Pin:382010.	01355	New
3	Haryana And Punjab	Chandigarh Main Branch, SCO 43-48, Banking Square, Sector-17B, Chandigarh, Distt: Chandigarh State: Chandigarh, Pin : 160017	00628	New
4	Karnataka	Bangalore Main Branch, Post Bag No.5310, St. Marks Road, Bangalore, District :Bangalore Urban, State: Karnataka, Pin : 560001	00813	New
5	Madhya Pradesh	Bhopal  Main Branch, T.T.Nagar,Bhopal-462003, Bhopal, Madhya Pradesh, District : Bhopal, State: Madhya Pradesh. Pin : 462003	01308	New
6	Maharashtra	Mumbai Main Branch, Mumbai Samachar Marg Horniman Circle, Fort ,Mumbai, Maharashtra     Pin : 400001	00300	Existing
7	Rajasthan	Jaipur Main Branch,P.B.NO.72, Sanganeri Gate Jaipur, Rajasthan District :Jaipur, State: Rajasthan. Pin : 302003	00656	New
8	Tamil Nadu	Chennai Main Branch,336/166, Thambuchetty Street, Parrys, Chennai. State: Tamil Nadu Pin : 600001	00800	Existing
9	Uttar Pradesh	Lucknow Main Branch, Tarawali Kothi, Motimahal Marg, Hazratganj, Lucknow, Uttar Pradesh District :Lucknow, State: Uttar Pradesh Pin : 226001	00125	New
10	West Bengal	Kolkata Main Branch, Samriddhi Bhawan 1, Strand Road, Kolkata, West Bengal, District :Kolkata. State: West Bengal. Pin : 700001	00001	Existing
11	Assam, Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura	Guwahati Branch, Pan Bazar, MG Road, Kamrup, Guwahati Pin: 781001	00078	New