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With reference to Electoral Bonds, consider the following statements:
1. They are interest-free bearer instruments.
2. They can be paid to an eligible Political Party through a Bank account only.
3. Electoral Bonds are valid for 6 months from the date of issue.
Which of the statements given above is/are correct?
  • a)
    1 and 2 only
  • b)
    2 and 3 only
  • c)
    1 and 3 only
  • d)
    1, 2 and 3
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
With reference to Electoral Bonds, consider the following statements:1...
In News: Electoral bonds worth Rs. 695 crore sold during recent Assembly polls in West Bengal. The amount sold was the highestever for any Assembly elections since the scheme started in 2018.
Statement 1 is correct: Electoral Bonds may be purchased by a person who is a citizen of India or incorporated or established in India. They are interest-free bearer instruments.
Statement 2 is correct: The Electoral Bonds can be encashed by an eligible Political Party only through a Bank account with the Authorized Bank. As of now, only SBI has been authorised to do so.
Statement 3 is not correct: Electoral Bonds are valid for fifteen calendar days from the date of issue and no payment is made to any payee Political Party if the Electoral Bond is deposited after expiry of the validity period.
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Community Answer
With reference to Electoral Bonds, consider the following statements:1...
In News: Electoral bonds worth Rs. 695 crore sold during recent Assembly polls in West Bengal. The amount sold was the highestever for any Assembly elections since the scheme started in 2018.
Statement 1 is correct: Electoral Bonds may be purchased by a person who is a citizen of India or incorporated or established in India. They are interest-free bearer instruments.
Statement 2 is correct: The Electoral Bonds can be encashed by an eligible Political Party only through a Bank account with the Authorized Bank. As of now, only SBI has been authorised to do so.
Statement 3 is not correct: Electoral Bonds are valid for fifteen calendar days from the date of issue and no payment is made to any payee Political Party if the Electoral Bond is deposited after expiry of the validity period.
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With reference to Electoral Bonds, consider the following statements:1. They are interest-free bearer instruments.2. They can be paid to an eligible Political Party through a Bank account only.3. Electoral Bonds are valid for 6 months from the date of issue.Which of the statements given above is/are correct?a)1 and 2 onlyb)2 and 3 onlyc)1 and 3 onlyd)1, 2 and 3Correct answer is option 'A'. Can you explain this answer?
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