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RTI News-Electoral Bonds not popular as of now- RTI Analysis

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A total of 445 bonds amounting to Rs 222 crore were issued in the first tranche in March this year, it came down to 256 bonds and Rs 115 crore in the second tranche and even further down to 204 bonds of Rs 101.40 crore in the third tranche

A total of 445 bonds amounting to Rs 222 crore were issued in the first tranche in March this year, it came down to 256 bonds and Rs 115 crore in the second tranche and even further down to 204 bonds of Rs 101.40 crore in the third tranche, according to Finance Ministry data given in response to a Right to Information (RTI) request by the paper.

“Three tranches of electoral bonds have been issued till May 31, 2018. Electoral bonds would be issued or purchased for any value in multiples of ₹1,000, ₹10,000, ₹1 lakh, ₹10 lakh and ₹1 crore,” the Finance Ministry said, adding that it does not maintain data on the number of bonds purchased in each denomination.

Here are the details of Electoral Bonds: https://www.nationalconcerns.in/topic/5660-what-is-electoral-bond/

What is Electoral Bond

Electoral bond means a bond issued in the nature of promissory note which shall be a bearer banking instrument and shall not carry the name of the buyer or payee. As a financial instrument, the electoral bond will be a bearer instrument in the nature of a promissory note. This means that the instrument is a certificate to pay a specified amount with the binding date.The State Bank of India authorised to issue and encash the bonds in the branches.


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