Rs 222 crore electoral bonds sold: P Radhakrishnan

NEW DELHI: In first issue of Electoral Bonds, Rs 222 crore of bonds were bought to make donations to political parties.

The issue opened for subscription for 10 days on March 1.

“The amount collected from the sale of Electoral Bonds under the first issue of the scheme is Rs 222 crore as on March 9, 2018,” minister of state for finance P Radhakrishnan said in a written reply in the Lok Sabha.


Finance minister Arun Jaitley had announced ‘Electoral Bonds’ in Union Budget 2017-18 to cleanse political funding. In the nature of promissory notes, these bonds allow anonymous donations to political parties from accounted source of funds. The bonds can be purchased only after making payment through a KYC compliant account at designated SBI branches.

The interest-free banking instrument can be purchased by a citizen of India or a body incorporated in India, he said. “Tenor of electoral bonds is for 15 days during which it can be used for making a donation only to registered political parties which have secured not less than 1% of the votes polled” in the last Lok Sabha or assembly elections, he said.