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Context: The 26th tranche of electoral bond sales has been authorised by the Union government, and it will take place over 10 days beginning April 3 and ending April 12 at all authorised State Bank of India branches.
Details
Electrol Bond release
Recent Changes
Keywords
Bond
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PRACTICE QUESTION Q. Consider the following Statement about the Electoral bonds; 1. Electoral Bond is a bearer instrument like a Promissory Note. 2. The Electoral Bond carries the name of the payee. 3. Electoral Bonds have a validity of 30 days. Which of the following Statement is/are incorrect? (A) 1 and 2 only (B) 2 and 3 only (C) 1 and 3 only (D) 1, 2 and 3 Answer: B Explanation: Statement 1 is correct: The Electoral Bond is a bearer instrument like a Promissory Note and an interest-free banking instrument. A bearer instrument is a document that authorizes the holder with the right of ownership or title of the property, such as Currency, shares or bonds. Statement 2 is incorrect: The Electoral Bond does not carry the name of the payee. It protects the identity of political donors and parties receiving contributions. The bonds do not have the name of the donor or the receiving political party. Statement 3 is incorrect: Electoral bonds would be issued/purchased for any value, in multiples of Rs 1,000 from the specified branches of the State Bank of India (SBI). Electoral Bonds have a validity of 15 days. |
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