Govt Approves Electoral Bonds For Political Parties, Aims Transparency

The Central Government approved the issuance of the 21st tranche of electoral bonds, pitched as an alternative to cash donations made to political parties. The electoral bonds would help bring transparency in political funding, avoiding bribes and favours. The State Bank of India (SBI), has been authorised to issue and encash electoral bonds through its 29 authorised branches. The new arrangement is in effect from July 1 to July 10.