Telling Numbers: Electoral bonds worth Rs 5,850 crore sold so far, 70% in 3 metroshttps://indianexpress.com/article/explained/electoral-bonds-worth-rs-5850-crore-sold-so-far-70-per-cent-in-3-metros-5825956/

Telling Numbers: Electoral bonds worth Rs 5,850 crore sold so far, 70% in 3 metros

Bonds are available in denominations of Rs 1 lakh, Rs 10 lakh and Rs 1 crore.

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State Bank of India, the nodal bank for the sale of electoral bonds, told The Indian Express in a Right to Information reply that the scheme was opened in nine phases in different months.

Out of 11,681 electoral bonds worth a total Rs 5,850.85 crore that donors have bought since the scheme was launched, bonds worth Rs 4045.81, or nearly 70 per cent of the total purchase, were bought in the three big cities — Mumbai, Delhi and Kolkata.

State Bank of India, the nodal bank for the sale of electoral bonds, told The Indian Express in a Right to Information reply that the scheme was opened in nine phases in different months. Bonds worth Rs 1,782.36 crore, Rs 1,388.95 crore and Rs 874.50 crore respectively were sold by Mumbai, Kolkata and Delhi branches of SBI.

Bonds are available in denominations of Rs 1 lakh, Rs 10 lakh and Rs 1 crore. They are donated to political parties and once they receive these, they encash them in the bank. In its RTI application, The Indian Express sought to know which parties encashed the electoral bonds over different months, but the SBI declined to reply, saying that the “information sought by the applicant cannot be disclosed as it is in fiduciary capacity disclosure of which is exempted”.