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Consider the following statements regarding Electoral Bonds:
1. Political parties securing at least 1% votes in the last general election to the Parliament are eligible to open current accounts for redemption of electoral bonds.
2. The State Bank of India is authorised to issue and encash the electoral bonds.
Which of the statements given above is/are not correct?
  • a)
    1 only
  • b)
    2 only
  • c)
    Both 1 and 2
  • d)
    Neither 1 nor 2
Correct answer is option 'D'. Can you explain this answer?
Verified Answer
Consider the following statements regarding Electoral Bonds:1. Politic...
  • Electoral Bond is a financial instrument for making donations to political parties.
    • The bonds are issued in multiples of Rs. 1,000, Rs. 10,000, Rs. 1 lakh, Rs. 10 lakh and Rs. 1 crore without any maximum limit.
  • The State Bank of India (SBI) is authorised to issue and encash these bonds, which are valid for fifteen days from the date of issuance. Hence, statement 2 is correct.
  • These bonds are redeemable in the designated account of a registered political party.
    • Political parties registered under Section 29A of the Representation of the People Act, 1951, which have secured not less than 1% of the votes in the last general election to an Assembly or Parliament, are eligible to open current accounts for redemption of electoral bonds. Hence, statement 1 is correct.
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Consider the following statements regarding Electoral Bonds:1. Political parties securing at least 1% votes in the last general election to the Parliament are eligible to open current accounts for redemption of electoral bonds.2. The State Bank of India is authorised to issue and encash the electoral bonds.Which of the statements given above is/are not correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'D'. Can you explain this answer?
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Consider the following statements regarding Electoral Bonds:1. Political parties securing at least 1% votes in the last general election to the Parliament are eligible to open current accounts for redemption of electoral bonds.2. The State Bank of India is authorised to issue and encash the electoral bonds.Which of the statements given above is/are not correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'D'. Can you explain this answer? for Current Affairs 2024 is part of Current Affairs preparation. The Question and answers have been prepared according to the Current Affairs exam syllabus. Information about Consider the following statements regarding Electoral Bonds:1. Political parties securing at least 1% votes in the last general election to the Parliament are eligible to open current accounts for redemption of electoral bonds.2. The State Bank of India is authorised to issue and encash the electoral bonds.Which of the statements given above is/are not correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for Current Affairs 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements regarding Electoral Bonds:1. Political parties securing at least 1% votes in the last general election to the Parliament are eligible to open current accounts for redemption of electoral bonds.2. The State Bank of India is authorised to issue and encash the electoral bonds.Which of the statements given above is/are not correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'D'. Can you explain this answer?.
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