Which of the following statements is/are correct?

I. PNB is the only institution with the power to issue electoral bonds.

II. The Electoral Bonds are valid from the date of issuance for fifteen calendar days.

III. All Political Parties shall be eligible to receive the Electoral Bonds

Select the correct answer using the code given below:

Solution

Statement I is not correct -: These bonds can only be issued by the State Bank of India. Statement II is correct -: The Electoral Bonds are valid for fifteen calendar days starting on the day of issuance. The Electoral Bond is deposited after the validity period has passed; no payment will be made to any payee Political Party. Statement III is not correct -: Only the Political Parties registered under Section 29A of the Representation of the People Act, 1951 and which secured not less than one percent of the votes polled in the last General Election to the House of the People or the Legislative Assembly of the State, shall be eligible to receive the Electoral Bonds.