Question

With reference to the Electoral Bond Scheme, consider the following statements:
1. Any Universal Commercial Bank can issue such bonds.
2. It is the RBI that pays interest over these bonds and not the issuing banks.
3. The identity of the buyer of these bonds is not disclosed even to the beneficiary.
Which of the statements given above is/are correct?

• A. 1 and 2 only
• B. 2 and 3 only
• C. 1 only
• D. 3 only

Answer 1

The correct option is D 3 only

Only SBI can issue Electoral bond.It is named as bond but it is more like a donation so no interest is to be paid on these bonds.The identity of the buyer is not disclosed.