Electoral Bond Scheme Opens On November 6: PM Modi led government at Centre has approved the issuance of 29th tranche of electoral bonds that will open for sale on November 6 (Monday). Bonds will be valid for 15 calendar days from the date of issue and no payment will be made to any payee political party if the bond is deposited after expiry of the validity period.
The sale of the first batch of electoral bonds happened in March 2018.
The decision was taken ahead of assembly elections in five states including Rajasthan, Madhya Pradesh, Chhattisgarh, Telangana and Mizoram. Elections in these states span from November 7-30. Counting of votes will be done on December 3.
What are electoral bonds?
Electoral bonds have been pitched as an alternative to cash donations made to political parties as part of efforts to bring transparency to political funding.
State Bank of India (SBI): Authorized Issuing Authority
SBI is the only authorised bank to issue electoral bonds. Government of India has authorised State Bank of India (SBI), in the XXIX Phase of sale, to issue and encash Electoral Bonds through its 29 Authorised Branches w.e.f. November 6-20, 2023.
Electoral bonds are encashed by an eligible political party only through a bank account with the authorised bank.
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Who can buy electoral bonds?
Electoral bonds can be purchased by Indian citizens or entities incorporated or established in the country.
Electoral Bond Scheme – Full List 29 Authorised Branches
| Sl.No. | State/UT | Name of the Branch & Address | Branch Code No. |
| 1. | Delhi | Delhi Main Branch 11, Parliament Street, New Delhi – 110001 | 00691 |
| 2. | Haryana, Punjab and Chandigarh | Chandigarh Main Branch SCO 43-48, Banking Square,Sector-17B, Chandigarh, Distt: ChandigarhState: Chandigarh, Pin : 160017 | 00628 |
| 3. | Himachal Pradesh | Shimla Main BranchNear Kali Bari Temple, The Mall, Shimla, District : ShimlaState: Himachal Pradesh,Pin : 171003 | 00718 |
| 4. | Jammu and Kashmir | Badami Bagh (Srinagar) Branch Badami BaghCantonment, Srinagar, Kashmir Dist : Badgam,State: Jammu & KashmirPin : 190001 | 02295 |
| 5. | Uttarakhand | Dehra Dun Main Branch4, Convent Road, Dehradun Uttarakhand, District : Dehradun State: Uttarakhand Pin : 248001 | 00630 |
| 6. | Gujarat, Dadar & Nagar Haveli and Daman & Diu | Gandhinagar Branch, I Floor, Zonal Office Sector10 B Gandhinagar Distt: Gandhinagar,State : Gujarat Pin:382010. | 01355 |
| 7. | Madhya Pradesh | Bhopal Main Branch T.T.Nagar,Bhopal-462003, Bhopal, Madhya Pradesh,District : Bhopal,State: Madhya Pradesh,Pin : 462003 | 01308 |
| 8. | Chhattisgarh | Raipur Main Branch P.B.NO.29/61,Jaistambh Chowk, Raipur,District : RaipurState : Chhatisgarh Pin: 492001 | 00461 |
| 9. | Rajasthan | Jaipur Main Branch P.B.No.72, Sanganeri GateJaipur, Rajasthan District: Jaipur,State: Rajasthan.Pin : 302003 | 00656 |
| 10. | Maharashtra | Mumbai Main Branch Mumbai Samachar MargHorniman Circle, Fort, Mumbai, Maharashtra Pin: 400001 | 00300 |
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| 11. | Goa, Lakshadweep | Panaji BranchOpp : Hotel Mandovi, Dayanand, Dayanand Bandodkar Marg, Panaji, Goa.District : North Goa, State : Goa, Pin: 403001 | 00509 |
| 12. | Uttar Pradesh | Lucknow Main BranchTarawali Kothi, Motimahal Marg, Hazratganj, Lucknow, Uttar PradeshDistrict :Lucknow, State: Uttar PradeshPin : 226001 | 00125 |
| 13. | Odisha | Bhubaneswar Main Branch P.B.NO.14, Bhubaneswar BhubaneswarDistrict : KhurdaState: Odisha, Pin : 751001 | 00041 |
| 14. | West Bengal and Andaman & Nicobar | Kolkata Main Branch Samriddhi Bhawan1, Strand Road, Kolkata, West Bengal, District :Kolkata.State: West Bengal. 3Pin : 700001 | 00001 |
| 15. | Bihar | Patna Main BranchWest Gandhi Maidhan, Patna, Bihar. Pin: 800001 | 00152 |
| 16. | Jharkhand | Ranchi Branch Court Compound,Jharkhand, District : Ranchi, State: Jharkhand, Pin : 834001 | 00167 |
| 17. | Sikkim | Gangtok BranchM G Marg, Gangtok SIKKIM Dist: East SikkimState : Sikkim Pin : 737101 | 00232 |
| 18. | Arunachal Pradesh | Itanagar BranchTT Marg,VIP Road Bank Tinali, Itanagar, Arunachal Pradesh District : PapumpareState : Arunachal PradeshPin : 791111 | 06091 |
| 19. | Nagaland | Kohima BranchNear deputy commissioner’s office KohimaNagaland Pin: 797001 | 00214 |
| 20. | Assam | Guwahati BranchPan Bazar, MG Road,Kamrup, Guwahati, Pin: 781001 | 00078 |
| 21. | Manipur | Imphal BranchM G Avenue, Imphal west ManipurPin: 795001 | 00092 |
| 22. | Meghalaya | Shilong BranchMG Road, Near General PO Shillong, District: Khasi Hills (E), Meghalaya,Pin: 793001 | 00181 |
| 23. | Mizoram | Aizawl Branch Solomns caveDistrict: Aizawl, MizoramPin: 796001 | 01539 |
| 24. | Tripura | Agartala BranchHari Ganga Basak road, AgartalaDistrict: Tripura (W), Tripura Pin: 799001 | 00002 |
| 25. | Andhra Pradesh | Visakhapatnam Branch Rednam Gardens, Jail Road,Junction, Opp. Pages/Vodaphone Off, Visakhapatnam,District: Visakhapatnam State : Andhra Pradesh Pin : 530002 | 00952 |
| 26. | Telangana | Hyderabad Main Branch Bank Street, Koti, Hyderabad. District : HyderabadState: TelanganaPin : 500095 | 00847 |
| 27. | Tamil Nadu and Puducherry | Chennai Main Branch 336/166, Thambuchetty Street, Parrys, Chennai.State: Tamil NaduPin : 600001 | 00800 |
| 28. | Karnataka | Bengaluru Main Branch Post Bag No.5310,St. Marks Road, Bangalore,District :Bangalore Urban, State: Karnataka, Pin : 560001 | 00813 |
| 29. | Kerala | Thiruvananthapuram Branch P.B.No.14, M.G.Road,Thiruvananthapuram,District : Thiruvananthapuram, State: Kerala, Pin: 695001 | 00941 |
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. Times Now Digital suggests its readers/audience to consult their financial advisors before making any money related decisions.)
