The fourth Phase of Sale of Electoral Bonds will begin from Monday and will continue till 11th of next month.

The Finance Ministry today said, State Bank of India has been authorised to issue and encash these Bonds through its eleven authorised branches across the country.

Electoral Bonds will 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 the expiry of the validity period.

Only the Political Parties registered under Section 29A of the Representation of the People Act and which secured not less than one per cent of the votes polled in the last General Election to the Lok Sabha and the Legislative Assembly of the State shall be eligible to receive the Electoral Bonds.

Bonds can be purchased by a person, who is a citizen of India or incorporated or established in India.

The government had notified the Electoral Bond Scheme 2018 through Gazette Notification on 2nd of January this year.