CURRENT AFFAIRS

Detailed explanation-1: -SBI is the only authorised bank to issue electoral bonds.

Detailed explanation-2: -State Bank of India (SBI) is the only bank authorised to issue EBs to political parties. “An amount of Rs 1.90 crore, inclusive of GST, has been levied to the government so far towards printing of Electoral Bonds,” the RTI reply said.

Detailed explanation-3: -State Bank of India (SBI), in the XXIII Phase of sale, has been authorised to issue and encash Electoral Bonds through its 29 Authorized Branches (as per list enclosed) w.e.f. 09.11. 2022 to 15.11.

Detailed explanation-4: -SBI is the only authorised bank to issue electoral bonds. An electoral bond will be valid for 15 days from the date of issuance. No payment would be made to any political party if the bond is deposited after expiry of the validity period, the statement said.

Detailed explanation-5: -2022. The Electoral Bonds shall 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 expiry of the validity period.