Political system in India Ahead of Karnataka assembly elections, the government approved issuance of electoral bonds on April 3. About Electoral Bond: The government announced the Electoral Bond Scheme, on January 2, 2018. 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. State Bank of India is authorised to issue and encash these bonds, which are valid for fifteen days from the date of issuance. These bonds are redeemable in the designated account of a registered political party.
