NEW DELHI: The State Bank of India has bought electoral bonds worth over Rs 3,622 crore in March and April this year, an RTI response has said.
In a response provided to Pune-based Vihar Durve, the SBI said electoral bonds of Rs 1,365.69 crore have been bought in March, which shot up through 65.21 consistent with cent in April to Rs 2,256.37 crore.
In April, maximum electoral bonds have been bought in Mumbai at Rs 694 crore, adopted through Rs 417.31 crore in Kolkata, Rs 408.62 crore in New Delhi and Rs 338.07 crore in Hyderabad amongst different cities, it said.
The bonds' sale opens in SBI branches when the finance ministry issues a notification in their sale for a given period.
The scheme of electoral bonds notified through the Centre in 2018 has been challenged in the Supreme Court.
Only the political parties registered beneath phase 29A of the Representation of the People Act, 1951 (43 of 1951) and which secured no longer lower than one consistent with cent of the votes polled in the closing common election to the house of the people or the legislative meeting of the state, will likely be eligible to obtain the bonds.
The bonds could also be purchased through a person who's a citizen of India "or incorporated or established in India," the federal government had said in a observation closing year.
The bonds stay valid for 15 days and can also be encashed through an eligible political birthday celebration handiest via an account with the authorized bank inside of that period handiest.
A voluntary workforce operating in the field of electoral reforms, Association for Democratic Reforms (ADR), has demanded a stay on the sale whilst the CPI(M) has challenged it sooner than the Supreme Court in separate petitions.
ADR just lately filed an application in the apex court docket looking for a stay on the electoral bond scheme, 2018 which used to be notified through the Centre in January closing year.
It said amendments performed in relevant acts have "opened the floodgates to unlimited corporate donations to political parties and anonymous financing by Indian as well as foreign companies which can have serious repercussions on the Indian democracy".
In a response provided to Pune-based Vihar Durve, the SBI said electoral bonds of Rs 1,365.69 crore have been bought in March, which shot up through 65.21 consistent with cent in April to Rs 2,256.37 crore.
In April, maximum electoral bonds have been bought in Mumbai at Rs 694 crore, adopted through Rs 417.31 crore in Kolkata, Rs 408.62 crore in New Delhi and Rs 338.07 crore in Hyderabad amongst different cities, it said.
The bonds' sale opens in SBI branches when the finance ministry issues a notification in their sale for a given period.
The scheme of electoral bonds notified through the Centre in 2018 has been challenged in the Supreme Court.
Only the political parties registered beneath phase 29A of the Representation of the People Act, 1951 (43 of 1951) and which secured no longer lower than one consistent with cent of the votes polled in the closing common election to the house of the people or the legislative meeting of the state, will likely be eligible to obtain the bonds.
The bonds could also be purchased through a person who's a citizen of India "or incorporated or established in India," the federal government had said in a observation closing year.
The bonds stay valid for 15 days and can also be encashed through an eligible political birthday celebration handiest via an account with the authorized bank inside of that period handiest.
A voluntary workforce operating in the field of electoral reforms, Association for Democratic Reforms (ADR), has demanded a stay on the sale whilst the CPI(M) has challenged it sooner than the Supreme Court in separate petitions.
ADR just lately filed an application in the apex court docket looking for a stay on the electoral bond scheme, 2018 which used to be notified through the Centre in January closing year.
It said amendments performed in relevant acts have "opened the floodgates to unlimited corporate donations to political parties and anonymous financing by Indian as well as foreign companies which can have serious repercussions on the Indian democracy".
Electoral bonds worth Rs 3,622 cr sold by SBI: RTI
![Electoral bonds worth Rs 3,622 cr sold by SBI: RTI]()
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May 11, 2019
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