Consider the following statements regarding electoral bonds 1 Rs 100 is the minimum denomination und...........

Indian Governance and Polity(UPPCS) Electoral System

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Consider the following statements regarding electoral bonds:

1. Rs.100 is the minimum denomination under which political parties can receive donation under electoral bonds scheme.

2. After introduction of electoral bonds political parties can receive only 1000Rs maximum through cash mode.

3. Electoral bonds were formally introduced in 2018.

Which of the above statements are incorrect ?

1 and 2 only

2 and 3 only

1 and 3 only

None of the above

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Explanation:

Explanation: Statement 1 is incorrect : Electoral bonds, which are sold in multiples of Rs 1,000, Rs 10,000, Rs 1 lakh, Rs 10 lakh, and Rs 1 crore, can be bought from authorised branches of the State Bank of India. Statement 2 is incorrect : After introduction of electoral bonds, maximum amount which political parties can receive in form of cash reduced from Rs 20000 to Rs 2000. Statement 3 is correct : Formally, electoral bonds were introduced in 2018. Topic: Electoral bonds