Electoral Bonds And Facts Associated With Them Recently Jharkhand Mukti Morcha (JMM) , which is also the ruling party of Jharkhand , became the first party to declare the name of a donor who made a contribution through electoral bonds. This article is about the basic facts related to electoral bonds which were introduced in India in 2017 and allowed to issue from 2018. The electoral bond scheme was framed by the central government by exercising powers under RBI Act, 1934. What is an Electoral Bond ? In simple terms , it is a non refundable bond which does not carry the name of buyer or payee and is issued by SBI (only SBI is authorized to issue the bond) . This bond is a financial instrument through which a company, a person , a firm, any agency , (all should be citizens of India or incorporated or established in India) etc can donate funds to any political party. What is the validity of these bonds? And What happens to the bond if not issued within validity? This bond is valid
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