Electoral bonds are financial instruments used for making donations to political parties. Here are the key points regarding electoral bonds: Eligibility for Political Parties : Only political parties that meet the following criteria are eligible to receive electoral bonds: Registered under Section 29A of the Representation of the People Act, 1951. Secured at least one percent of the votes polled in the last general election to the House of the People (Lok Sabha) or the Legislative Assembly (state elections) 1 2 . Nature of Electoral Bonds : An electoral bond is a bearer instrument , meaning it does not carry the name of the buyer or payee. No ownership information is recorded, and the holder (i.e., the political party) is presumed to be its owner. These bonds are issued in multiples of ₹1,000, ₹10,000, ₹1 lakh, ₹10 lakh, and ₹1 crore. Individuals (Indian citizens) and domestic companies can donate these bonds to political p...