Electoral Bond Scheme - 2018

(Gazette Notification No 20 dated 2nd January 2018)

Operating Guidelines for Donors

State Bank of India

Corporate Centre, Mumbai
1. Purchaser of Electoral Bonds (Eligibility)

Electoral Bonds can be purchased by a person, who is a Citizen of India or incorporated or established in
India:
1. Individual
2. Hindu Undivided Family
3. Company
4. Firm
5. Association of Persons or a Body of Individuals, whether incorporated or not
6. Artificial Juridical Person, not falling within any of the preceding sub-clauses
7. Agency, Office or Branch owned or Controlled by such person

In this document we refer to any of the above entities as “Purchaser”.

2. Features of Electoral Bonds

1. The Electoral Bonds will be in the form of Promissory Note and Bearer in nature which will not
carry the name of the buyer or payee.

2. The Electoral Bonds will be available in the following denominations:

i. Rs. 1,000
ii. Rs. 10,000
iii. Rs. 1,00,000
iv. Rs. 10,00,000
v. Rs. 1,00,00,000
3. The Electoral Bonds shall be valid for fifteen calendar days from the date of issue and no payment
shall be made to any payee Political Party if the Electoral Bond is deposited at the Authorised SBI
Branches after expiry of the validity period.
4. On receipt of an application, the issuing Branch shall issue the requisite Electoral Bonds, if all the
requirements are fulfilled.
5. The information furnished by the Purchaser shall be treated confidential by State Bank of India
and shall not be disclosed to any authority for any purposes, except when demanded by a
Competent Court or upon registration of Criminal Case by any Law Enforcement Agency.
6. A Non-KYC compliant application or an application not meeting the requirements i.e. Citizenship,
KYC norms, etc. shall be rejected.
7. The Electoral Bonds shall be issued to the Purchaser on non-refundable basis.
8. The Electoral Bonds under this Scheme shall be available for purchase for 10 days in each quarter
as advised by GOI.
9. An additional period of thirty days shall be specified by GOI in the year of General Elections to the
House of People.
10. No interest shall be payable on these Bonds.
11. Bonds are not tradable on any Stock Exchange.
12. No loan can be extended against the security of these Bonds.
2
3. Citizenship Documents Required for Purchase of Electoral Bonds:

The Electoral Bonds can be purchased by a person, who is a Citizen of India or incorporated or
established in India. Anyone of the undernoted documents is required from an Individual to establish
his/her Citizenship:

Purchaser Document for proof of Citizenship

Individual Anyone of the three documents specified below :

1. Passport issued by Govt of India

2. Voter ID Card issued by Election Commission of
India
3. Letter from National Population Registry (NPR)
for the residents of J&K, Meghalaya and Assam

Hindu Undivided Family Anyone of the three documents specified below :

1. Passport of Karta issued by Govt of India

2. Voter ID Card of Karta issued by Election
Commission of India
3. Letter from National Population Registry (NPR)
for Karta, if he/she is resident of J&K,
Meghalaya or Assam

Company Certificate of Incorporation

Firm Anyone of the documents mentioned below :

1. Certificate of Incorporation in India

2. Certificate of Establishment in India
(Partnership Deed/ Trust Deed)

Association of Persons or a Anyone of the documents mentioned below :

body of Individuals, whether
1. Certificate of Incorporation in India
incorporated or not
2. Certificate of Establishment in India

Artificial Juridical Person, not Anyone of the documents mentioned below :

falling within any of the
1. Certificate of Incorporation in India
preceding sub-clauses
2. Certificate of Establishment in India

Agency, Office or Branch Anyone of the documents mentioned below :

owned or Controlled by such
1. Certificate of Incorporation in India
person
2. Certificate of Establishment in India

3
4. KYC Documents Required for Purchase of Electoral Bonds:

1) Individuals

Aadhaar with current address & Permanent Account Number (PAN) or Form No. 60 as defined
in Income-Tax Rules, 1962.

 In case Aadhaar Number is not available with the customer, he/she shall furnish proof
of application of enrolment for Aadhaar.

 In case PAN is not available and/or Aadhaar does not have current address, one
certified copy of any one from following five Officially Valid Documents (OVDs) to be
submitted:

(i) Passport,
(ii) Driving Licence,
(iii) Voter’s Identity Card issued by Election Commission of India,
(iv) Job Card issued by NREGA duly signed by an officer of the State Govt
(v)The letter issued by the National Population Register containing details of Name
and Address.

Further, if the abovementioned OVD also does not contain current address, the Purchaser has
to provide any one document from the undernoted list of deemed OVDs.
(i) Utility Bill which is not more than two months old of any service provider
(electricity, telephone, post-paid mobile phone, piped gas, water bill);
(ii) Property or Municipal Tax Receipt;
(iii) Pension or Family Pension Payment Orders (PPOs) issued to retired employees
by Government Departments or Public Sector Undertakings, if they contain the
address;
(iv) Letter of Allotment of accommodation from Employer issued by State
Government or Central Government Departments, Statutory or Regulatory
Bodies, Public Sector Undertakings, Scheduled Commercial Banks, Financial
Institutions and Listed Companies and Leave and Licence Agreements with such
employers allotting official accommodation

An Individual, who is a Non-Resident Indian, or Resident of J&K / Assam / Meghalaya or

otherwise not eligible to be enrolled for an Aadhaar Number:
PAN and one certified copy of OVD for proof of address. In case the customer submits
Form 60, in place of PAN, one certified copy of an OVD containing details of his identity
of address, and one recent photograph shall also be provided.

4
2) Companies

(i) Certificate of Incorporation;

(ii) Memorandum and Articles of Association;
(iii) A Resolution from the Board of Directors and Power of Attorney granted to its
managers, officers or employees to transact on its behalf;
(iv) PAN of the Company; and
(v) (a) Aadhaar Number and (b) PAN or Form 60 as defined in the Income-tax Rules, 1962,
issued to managers, officers or employees holding an Attorney to transact on the Company’s
behalf.
(vi) Declaration of Beneficial Ownership on Specified Format
(vii) Self attested KYC documents and photographof each Beneficial Owner.

3) Partnership Firm

(i) Registration Certificate;

(ii) Partnership Deed; and
(iii) PAN of the Partnership Firm;
(iv) (a) Aadhaar Number and (b) Permanent Account Number or Form 60 as defined in the
Income-tax Rules, 1962, issued to the person holding an Attorney to transact on its behalf.
(v) Declaration of Beneficial Ownership on Specified Format
(vi)Self attested KYC documents and photographof each Beneficial Owner.

4) Trust

(i) Registration Certificate

(ii) Trust Deed
(iii) PAN of the Trust
(iv) (a) Aadhaar Number and (b) Permanent Account Number or Form 60 as defined in the
Income-Tax Rules, 1962, issued to the person holding an Attorney to transact on its behalf.
(v) Declaration of Beneficial Ownership on Specified Format
(vi) Self attested KYC documents and photographof each Beneficial Owner.

5) Unincorporated Association or a Body of Individuals

(i) Resolution of the Managing Body of such Association or body of individuals;

(ii) Power of Attorney granted to him / her to transact on its behalf;
(iii) PAN of the unincorporated Association or a Body of Individuals
(iv)(a) Aadhaar Number and (b) Permanent Account Number or Form 60 as defined in the
Income-Tax Rules, 1962, issued to the person holding an Attorney to transact on its behalf.
(v) Declaration of Beneficial Ownership on Specified Format
(vi) Self attested KYC documents and photographof each Beneficial Owner.

5
 5. Purchase of Electoral Bonds

Any Purchaser willing to purchase Electoral Bonds (EBs) issued by State Bank of India can make payment for
the same through any of the following modes:
Sl No. Instrument Type Mode of Payment
1. Cheque SBI Cheque
Non-SBI Cheque

2. Demand Draft (DD) DD issued at SBI Branches

Non-SBI DD

3. Online SBI SBI Internet Banking (SBI account holder with INB facility)
4. NEFT/RTGS Internet Banking of Other Banks
Branches of Other Banks

Note:
i. No Third Party Cheques/Payments through Electronic Mode are permitted for the Purchase of
Electoral Bonds.
ii. All Purchasers of EB or his/her Authorized Representative need to visit the selected Authorized SBI
Branch in person with EB Application Form and Citizenship/KYC documents.
iii. In case of other Bank instrument (Cheque/Demand Draft) the same need to be submitted at least
three working days before the closure of the scheme, so that clear funds for issuance of Electoral
Bonds, are available with the Authorized SBI Branch.

6. Purchase of Electoral Bonds using Paper Instruments at Authorised SBI Branches

1. Purchaser may visit any one of the Authorized Branches of State Bank of India, and fill in the EB
Application Form (Annexure 1) and specified Pay-In Slip. If the Applicant is sending his/her
representative to purchase EB on his/her behalf he/she can authorise him/her by attesting his/her
signature in pay-in-slip.
2. The Purchaser goes to the counter designated for Electoral Bonds at the Branch and requests the
Teller for purchase of Electoral Bonds by handing over the following documents to the Teller:

SN Applicant Type Document/Instrument Type Description

Electoral Bonds Application

I All Duly-filled Electoral Bonds Application Form
Form

Duly-filled Pay In Slip for Electoral Bonds

II All Electoral Bonds Pay-In Slip
available at Authorised SBI Branches

 Any one of the paper Instrument should

III All Cheque/DD be presented through which Purchaser
desires to make the payment.
 All paper Instruments should be drawn
6
 in favour of “SBI TB A/c”.
 No Third Party Cheque/Payments
through Electronic Mode will be
accepted for the Purchase of Electoral
Bonds.
 In case of DD, The Purchaser will bring
Proforma from Remitting Branch
declaring the source of funds on the
Letter Head of the Branch stamped and
signed by the Branch Manager. The
Prescribed Format of the Proforma is
available onhttps://www.onlinesbi.com
Original along with self-attested copies of
IV All KYC
Documents as explained in Point No. 4

Original along with self-attested Documents

V All Citizenship
as explained in Point No. 3

If the application meets the criteria, EBs will be issued and the same will be handed over to the
applicant or his/her authorised representative against acknowledgment.
3. Authorised representative will only hand over these documents and collect EBs on behalf of
applicant if he/she is authorised by the applicant.

4. SBI Branch Teller may reject the purchase request in the following cases:
i. Incorrect Electoral Bonds Application Form.
ii. Invalid/mismatch in Citizenship KYC documents.
iii. Drawer of the Cheque / Issuer of Direct Debit and applicant of the EB should be on the
same name/Entity and signature at both places must tally.
iv. Signature of authorised representative is not attested by the applicant.
v. Account of the Drawer of Cheque / Issuer of Direct Debit is Non-KYC compliant account.
vi. In case of Draft/ BC, the certificate from issuing Branch for source of funds is not
provided.

7. Online Payment for Purchase of Electoral Bonds

1. Purchaser can initiate purchase of Electoral Bonds from https://www.onlinesbi.com/ by selecting

the Electoral Bonds tab. This tab will only be active during the notified Sale Period of Electoral
Bonds.

2. Purchaser will select the State/UT and the Branch (within that State/UT) from where he / she wants
to purchase the Electoral Bond.

3. Purchaser will input the amount of purchase (in multiples of 1000).

7
4. Purchaser must enter a valid 10-digit mobile number on which he/she will receive an OTP that must
be entered to proceed further. This mobile number will be used to provide any further information
to the Purchaser and also to retrieve the payment receipt later

5. On submission of the OTP, customer will be redirected to the payments screen where two options
will be available to make the payment: (i) SBI Internet Banking (ii) RTGS/NEFT (Other Bank).

On selection of SBI Internet Banking:

(a) Customer will be redirected to the INB merchant login page, where he / she has to login
using his / her SBI INB credentials.
(b) On successful transaction, two reference numbers will be generated viz.
i. 10 digit TB reference number.
ii. INB Reference number.
Both the reference numbers will be sent to customer’s registered Mobile No. with SBI INB.
Customer is required to note down both the reference numbers for future use.
(c) Receipt printing option will appear to the customer. This receipt will contain the following
fields (i) Date of Electronic Payment (ii) INB Reference Number (iii) Amount (iv)Selected
Branch.

(d) Purchaser must print a copy of electronic payment receipt from the tab named
“Print/Reprint Receipt”. Customer will be prompted to enter the following fields (i) Mobile
No. used in the application page (As mentioned in point 4 above) and (ii) TB Reference No.
On submission, INB system will validate Mobile No. with TB Reference No. on validation
he/she will be able to generate/print the receipt.

(a) Purchaser must bring a printout of his Bank A/c statement of the customer displaying
transaction confirming the remittance made from his/her Account for the purchase of EB.

On selection of NEFT/RTGS:

(a) It will generate Remittance Form. This form will be generated only once and Purchaser will
be advised to print/note down the contents of the form for future use. Purchaser will not be
able to regenerate the remittance form. If Purchaser loses/forgets to download the
remittance form, he / she must initiate a fresh transaction. The Remittance Form will
contain the following:
i. 15 digit Virtual Account Number for remitting the funds.
ii. IFSC – SBIN0000300
iii. 10 digit TB reference number
Bank will trigger an SMS to the customer mentioning the EB Reference No. and instructions
to revisit the Electoral Bond website after the actual remittance has been done, to print the
receipt.

8
 (b) Applicant can then remit funds through ‘NEFT/RTGS’ from his/ her Bank Net Banking or
personally visit any Bank Branch to remit funds using Virtual Account Number, having
format MOPSACP<8 alpha-numeric characters>.
(c) After successful credit, INB 10 digit Reference No. will be generated.
(d)Purchaser needs to revisit Electoral Bond website and go to Print/Reprint Receipt tab. He/she
will be able to print the receipt.
(b) The Applicant needs to bring the following documents along with him/her depending on
mode of Payment of NEFT/RTGS chosen:
a. Payment effected through Bank Branch: Proforma from Remitting Branch declaring the
source of funds on the Letter Head of the Branch stamped and signed by the Branch
Manager. The Prescribed Format of the Proforma is available on
https://www.onlinesbi.com.
b. Payment done through INB of the other Bank based on the details provided by SBI
MOPS: Bank A/C statement of the customer displaying transaction confirming the
remittance made from his/her Account.

6. Applicant needs to visit the selected Branch (filled in as part of Electoral Bond Application Form)
along with print out of Payment Receipt, Application Form, Pay-in-Slip, KYC & Citizenship
Documents, UTR Number (in case of RTGS/NEFT) and Bank A/C statement of the customer
displaying transaction confirming the remittance made from his/her Account.
7. If a purchaser visits any other Branch not selected while remitting funds, Electoral Bonds will not be
issued.

8. Auto Refund of Funds in the Remitter Account

1. If the funds are received after the closure of EB issue window, the same will be remitted back to
the same Account and preferably through the same mode through which funds were received
by us.
2. In case of funds received through clearing after the closure of the Scheme, Draft/Pay Order in
favour of the drawer of the instrument will be issued.

9. Grievance Redressal Mechanism

1. Frequently Asked Questions (FAQs) have been made available. The same will be kept on our
website.
2. Terms and Conditions relating to Electoral Bonds will be printed on the Application Form as well
as on the reverse of the Electoral Bonds
3. Purchaser may also call our Contact Centre using Toll Free Number for getting information
about the Electoral Bonds.

9
10. List of SBI Branches authorized for Purchase of Electoral Bonds

Sl. No. State/UT Name Of The Branch & Address Branch Code
No.

1. Delhi New Delhi Main Branch, 11, Parliament Street, 00691

New Delhi – 110001

2. Haryana, Punjab Chandigarh Main Branch, SCO 43-48, Banking 00628

Square, Sector-17B, Chandigarh, Distt: Chandigarh
and Chandigarh
State: Chandigarh, Pin : 160017

3. Himachal Pradesh Shimla Main Branch 00718

Near Kali Bari Temple, The Mall, Shimla
Himachal Pradesh,
District : Simla
State: Himachal Pradesh,
Pin : 171003
4. Jammu and Badami Bagh (Srinagar) Branch 02295
Badami Bagh
Kashmir
Cantonment, Srinagar, Kashmir
District : Srinagar, Jammu & Kashmi
Dist : Badgam,
State: Jammu & Kashmir
Pin : 190001

5. Uttarakhand Dehra Dun Main Branch 00630

4, Convent Road, Dehradun Uttarakhand
District : Dehradun
State: Uttarakhand Pin : 248001

6. Gujarat, Dadar & Gandhinagar Branch, I Floor, Zonal Office Sector 01355
10 B Gandhinagar
Nagar Haveli and
Distt: Gandhinagar,
Daman & Diu
State: Gujarat Pin:382010.

7. Madhya Pradesh Bhopal Main Branch, T.T.Nagar,Bhopal-462003, 01308

Bhopal, Madhya Pradesh,
District : Bhopal,
State: Madhya Pradesh, Pin : 462003

10
8. Chhattisgarh Raipur Main Branch 00461
P.B.NO.29/61,
Jaistambh Chowk, Raipur,
District : Raipur
State : Chhatisgarh Pin: 492001
9. Rajasthan Jaipur Main Branch, P.B.No.72, Sanganeri Gate 00656
Jaipur, Rajasthan District :Jaipur, State: Rajasthan.
Pin : 302003

10. Maharashtra Mumbai Main Branch, Mumbai Samachar Marg 00300

Horniman Circle, Fort ,Mumbai, Maharashtra Pin :
400001

11. Goa, Panaji Branch 00509

Opp : Hotel Mandovi, Dayanand,
Lakshadweep Dayanand Bandodkar Marg,
Panaji, Goa.
District : North Goa,
State : Goa, Pin: 403001
12. Uttar Pradesh Lucknow Main Branch, Tarawali Kothi, Motimahal 00125
Marg, Hazratganj, Lucknow, Uttar Pradesh
District :Lucknow,
State: Uttar Pradesh
Pin : 226001
13. Odisha Bhubaneswar Main Branch 00041
P.B.NO.14, Bhubaneswar
Bhubaneswar
District : Khurda
State: Odisha, Pin : 751001
14. West Bengal and Kolkata Main Branch, 00001
Andaman & Samriddhi Bhawan
1, Strand Road, Kolkata, West Bengal, District
Nicobar :Kolkata.
State: West Bengal. Pin : 700001
15. Bihar Patna Main Branch 00152
West Gandhi Maidhan, Patna,
Bihar. Pin: 800001
16. Jharkhand Ranchi Branch 00167
Court Compound,
Jharkhand,
District : Ranchi,
State: Jharkhand,
Pin : 834001
17. Sikkim Gangtok Branch 00232
M G Marg, Gangtok SIKKIM

11
 Dist: East Sikkim
State : Sikkim Pin : 737101
18. Arunachal Pradesh Itanagar Branch 06091
TT Marg,VIP Road Bank Tinali, Itanagar,
Arunachal Pradesh
District : Papumpare
State : Arunachal Pradesh
Pin : 791111
19. Nagaland Kohima Branch 00214
Near deputy commissioner's office
Kohima
Nagaland Pin: 797001
20. Assam Guwahati Branch, 00078
Pan Bazar,
MG Road,
Kamrup, Guwahati
Pin: 781001
21. Manipur Imphal Branch 00092
M G Avenue
Imphal west
Manipur
Pin: 795001
22. Meghalaya Shilong Branch 00181
MG Road, Near General PO
Shillong,
District: Khasi Hills (E), Meghalaya
Pin: 793001
23. Mizoram Aizawl Branch 01539
Solomns cave
District: Aizawl
Mizoram
Pin: 796001
24. Tripura Agartala Branch 00002
Hari ganga basak road,
Agartala
District: Tripura (W), Tripura
Pin: 799001

12
25. Andhra Pradesh Visakhapatnam Branch 00952
Rednam Gardens, Jail Road, Junction, Opp.
Pages/Vodaphone Off, Visakhapatnam,
Visakhapatnam
District: Visakhapatnam
State : Andhra Pradesh
Pin : 530002
26. Telangana Hyderabad Main Branch 00847
Bank Street, Koti, Hyderabad.
District : Hyderabad
State: Telangana
Pin : 500095
27. Tamil Nadu and Chennai Main Branch 00800
Puducherry 336/166, Thambuchetty Street, Parrys, Chennai.
State: Tamil Nadu
Pin : 600001
28. Karnataka Bengaluru Main Branch, Post Bag No.5310, 00813
St. Marks Road, Bangalore,
District :Bangalore Urban,
State: Karnataka, Pin : 560001

29. Kerala Thiruvananthapuram Branch 00941

P.B.No.14, M.G.Road, Thiruvananthapuram,
District : Trivandrum,
State: Kerala
Pin : 695001

13