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Electorol Bonds | Current Affairs CLASS # 39 | IAS 2019

Link to the class:

https://www.youtube.com/watch?v=d_5mY06FJsc

Link for PDF

https://www.brainyias.com/courses/current-affairs-300-ias-2019/lessons/electoral-bonds/

An electoral bond is designed to be a bearer instrument like a Promissory Note — in effect, it will be similar to a bank note that is payable to the bearer on demand and free of interest. It can be purchased by any citizen of India or a body incorporated in India.

How do you use it?

The bonds will be issued in multiples of ₹1,000, ₹10,000, ₹1 lakh, ₹10 lakh and ₹1 crore and will be available at specified branches of State Bank of India. They can be bought by the donor with a KYC-compliant account. Donors can donate the bonds to their party of choice which can then be cashed in via the party’s verified account within 15 days.

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