Which of the following statements is incorrect regarding Electoral Bond 1 The elector...........

Indian Polity Elections

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Which of the following statements is incorrect regarding Electoral Bond:

1. The electoral bond is issued by RBI only.

2. This bond can only be bought using cheques or digital payments.

3. The bonds which the donor has purchased will be given to a political party for a fixed period of time.

Which of the above statement are correct?

1 and 2 only

2 and 3 only

1 and 3 only

1,2 and 3 only

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Explanation:

Exp:

WHAT IS AN ELECTORAL BOND?

In this three players involved, First player is the donor who wants to donate funds to a political party. It can be a person, an organisation or even a company. Second player is a national or regional political party in the country. And the third player is the Reserve Bank of India.

The bonds will only be issued by a notified bank.

This bond can only be bought using cheques or digital payments.

The bonds which the donor has purchased will be given to a political party for a fixed period of time.

A political party using their notified bank account can convert these bonds into money.

All political parties are required to notify their bank account to the Election Commission from where they can access this money.

This bond will be like a bearer cheque which will facilitate donor's anonymity