The post shared by Congress senior leader P Chidambaram on Saturday has called the 28th Tranche of Electoral Bonds as ‘golden harvest’ for BJP.
The State Bank of India (SBI) will be opening its 28th tranche of electoral bonds from tomorrow for the next 10 days. The Finance ministry has issued an official statement, “The State Bank of India (SBI), in the XXVIII Phase of sale, has been authorised to issue and encash electoral bonds through its 29 authorised branches (as per the list enclosed) w.e.f. October 4-13.”
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As per the official statement the electoral bonds will have a validity of just 10 days rather than the usual period of 15 days. It is suspected that the ruling party Bharatiya Janata Party (BJP) will be receiving almost 90% of the share of electoral bonds as said by Congress leader in a tweet on X, formerly called Twitter. The post shared by Congress senior leader P Chidambaram on Saturday has called the 28th Tranche of Electoral Bonds as ‘golden harvest’ for BJP.
“The 28th tranche of the electoral bonds will open on October 4 and said, “It will be a golden harvest for the BJP. Going by the past records, 90 per cent of the so-called anonymous donations will go to the BJP. The crony capitalists will open their chequebooks to write out their ‘tribute’ to the lord and master in Delhi,” the post said.
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How are electoral bonds ‘Golden harvest’ for BJP?
Electoral bonds are a way of funding to eligible political parties while maintaining the anonymity of the fundraiser. The bonds were introduced in 2017 and got implemented in 2018, right before the Lok Sabha elections in 2019. The bank explains ‘eligible political party’ is who has registered under Section 29A of the Representation of the People Act, 1951 (43 of 1951) and has secured at least one percent votes in the last General Elections.
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So far, the BJP has been able to secure the most percentage of the shares in the previous elections. As per reports, the BJP has secured more than 52%, which is Rs. 5,271.9751 crore, of total electoral bonds. While the Congress has the second highest electoral bonds share, Rs. 952.2955 crore.
The electoral bonds are issued by only one financial institution, State Bank of India (SBI), in denominations of Rs 1,000, Rs 10,000, Rs 1 lakh, Rs 10 lakh, and Rs 1 crore. These bonds are interest free and can be purchased by any Indian identity or India established entity.
