The central government had on January 29, 2018, notified the electoral bond scheme. It is like a promissory note that can be bought by any Indian citizen or company incorporated in India from select branches of State Bank of India. The citizen can then donate the same to any eligible political party of his/her choice.

Issued in multiple values of Rs 1,000, Rs 10,000, Rs 1 lakh, Rs 10 lakh and Rs 1 crore, these bonds can only be encased by political parties, which had secured at least 1 per cent of the votes polled in the most recent Lok Sabha or state election.

Monies received from electoral bonds will be deposited in a bank account verified by the Election Commission.  All the transactions for electoral bonds can be done only through that account.

Public Political Party (PPP) is going to launch the Electoral Bond by the end of the year 2024.