The first sale of electoral bonds will start from March 1 for a period of 10 days at four main branches of State Bank of India in Chennai, Kolkata, Mumbai and New Delhi.These bonds will have a life of 15 days, and a citizen of India or an entity incorporated or established in the country can purchase them.
Finance Minister Arun Jaitley added in Lok Sabha that electoral bonds can be bought for any value, in multiples of Rs 1,000, Rs 10,000, Rs 1 lakh, Rs 10 lakh or Rs 1 crore. These bonds can be bought after fulfilling all the existing Know Your Customer (KYC) norms and making payments from a bank account. It will not carry the name of the payee.
To increase transparency in political funding, the electoral bonds scheme was announced in Union Budget 2017. These Electoral Bonds aims at rooting out current system of largely anonymous cash donations made to political parties which lead to generation of black money in the economy.An electoral bond will be valid for 15 days from the date of issue.The bond deposited by any eligible political party into its account would be credited on the same day.
- The Finance Ministry has informed that the first sale of electoral bonds will start from March 1 for a period of 10 days at four main branches of State Bank of India in Chennai, Kolkata, Mumbai and New Delhi as the SBI has been allowed to issue and encash electoral bonds initially at its four authorised branches.
- The electoral bond shall be valid for fifteen days from the date of issue and no payment shall be made to any payee political party if the bond is deposited after expiry of the validity period.
- As per provisions of the scheme, a person, who is a citizen of India or an entity incorporated/ established in India can purchase electoral bonds.The electoral bonds are being pitched as an alternative to cash donations made to political parties and bring transparency in political funding.
- Only the registered political parties, which have secured not less than 1 per cent of the votes polled in the last election of the Lok Sabha or legislative assembly of the state, will be eligible to receive electoral bonds.
- The bond shall be en cashed by an eligible political party only through a bank account with the authorized bank.A person being an individual can buy electoral bonds, either singly or jointly, with other individuals.
Bharti Airtel and Chinese telecom gear maker Huawei have successfully conducted India’s first 5G network trial under a test setup at the former’s network experience centre in Manesar, Gurgaon. India plans to roll out 5G services for consumers by 2020. 5G R15 is focusing on enhanced mobile broadband (eMBB), laying the key building blocks to support services like virtual reality, ultra-high-definition immersive video, and diversified long tail of future use cases and innovations.
Abhay Savargaonkar, director – networks at Bharti Airtel added about the features of 5G network and emphasized on developing a robust 5G ecosystem in India.He further added that “The promise of 5G is endless; it will be a game changer, and it will change the way we live, work and engage.”
5G Netwok is a third-generation partnership project (3GPP) which is a wireless communication technology. 5G technologies rollout will help in increasing GDP, creating employment and digitizing the economy. 5G has high speed data speed also to stream software updates, music, and navigation data.
- India’s first 5G network trial under a test setup at the former’s network experience centre in Manesar, Gurgaon has been successfully conducted by Bharti Airtel BSE 2.26 % and Chinese telecom gear maker Huawei.
- The telecom department was expected to finalise a roadmap for 5G services by June this year. To support services like virtual reality, ultra-high-definition immersive video, and diversified long tail of future use cases and innovations 5G R15 is focusing on enhanced mobile broadband (eMBB).
- Savargaonkar added in his statement that Airtel was well positioned to usher in the 5G space in the coming years in partnership with its ecosystem of partners and efforts on the 5G front will open the doors for Internet of Things, Artificial Intelligence, and Virtual Reality.
- The test trial of 5G Network is a small but a significant step in its journey towards the next generation 5G mobile networks, which could offer data speed up to 100 times faster than current 4G networks.
- Airtel’s efforts around 5G technology has also entered into a strategic alliance with South Korean firm SK Telecom to leverage the latter’s expertise to build advanced telecom network and together work in developing 5G technology.