Encash poll bonds or money goes to Prime Minister's National Relief Fund

The purchaser will have to submit PAN details, but need not require to give KYC details unless the bonds purchased are worth more than Rs 50,000

Electoral bonds, launched by the central government for making anonymous donations to political parties, can be purchased by cheque, demand draft, and electronic transfer from 53 of the more than 24,000 branches of State Bank of India (SBI) in the country, according to a notification.

If political parties fail to encash their bonds within 15 days of the purchase, they may lose the donation to the Prime Minister’s National Relief Fund, the government has said.

The bonds can be purchased by individuals, companies, non-government organisations, trusts, and a group of people without making a public disclosure.

The purchaser will have