3. Select the correct statement about the electoral bond scheme
1.On January 2, 2018, the government announced the electoral bond scheme.
- 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.