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Raipur SBI Main Branch authorised for sale of Electoral Bonds

Raipur, November 10, 2022: The Government of India has notified the Electoral Bond Scheme with making the Main Branch of the State Bank of India Raipur as the only authorised branch in Chhattisgarh for sale of the Bonds.

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 Lok Sabha or the Legislative Assembly of the State, shall be eligible to receive the Electoral Bonds, official sources said today.

The Electoral Bonds shall be encashed by an eligible Political Party only through a Bank account with the Authorised Bank.

SBI has been authorised to issue and encash Electoral Bonds through its 29 authorised branches, including Main Branch Raipur, with effect from November 9 to November 15, 2022.

The Electoral Bonds shall be valid for fifteen calendar 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.

As per the 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.

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