Team Blitz India
NEW DELHI: The 29th tranche of electoral bonds was issued on November 7 in anticipation of the upcoming assembly elections in five states.
The Government’s decision follows closely behind the campaigning for the assembly elections in Rajasthan, Madhya Pradesh, Chhattisgarh, Telangana, and Mizoram, which are scheduled to take place from November 7 to November 30. The vote counting is set to occur on December 3.
Electoral bonds have been introduced as a substitute for cash donations made to political parties, with the aim of enhancing transparency in political funding.
The initial sale of electoral bonds took place in March 2018.
Electoral bonds can be redeemed exclusively by an eligible political party through an authorized bank account, and the State Bank of India (SBI) is the sole authorized bank for issuing these bonds.