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Added on : 2019-05-10 21:39:46

The State Bank of India has sold electoral bonds worth over Rs 3,622 crore in March and April this year, an RTI response said.

In a response provided to Pune-based Vihar Durve, the SBI said electoral bonds of Rs 1,365.69 crore were sold in March, which shot up by 65.21% in April to Rs 2,256.37 crore.

In April, most electoral bonds were sold in Mumbai at Rs 694 crore, followed by Rs 417.31 crore in Kolkata, Rs 408.62 crore in New Delhi and Rs 338.07 crore in Hyderabad among other cities, it said.

The bonds' sale opens in SBI branches when the Finance Ministry issues a notification of their sale for a given period.

The scheme of electoral bonds notified by the Centre in 2018 has been challenged in the Supreme Court. 

Only the political parties registered under Section 29A of the Representation of the People Act, 1951 (43 of 1951) and which secured not less than one per cent of the votes polled in the last general election to the House of the People or the Legislative Assembly of the State, shall be eligible to receive the bonds.

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