Question

Assad buys an electoral bond worth ₹ 1,00,000/- on November 9, 2022 and plans to give the bond to the Popular People’s Party (the “PPP”), which he has been supporting for many years. On November 10, he must travel out of station on some urgent business, and he only hands the bond over to a representative of the PPP on November 14, 2022. The PPP’s representative deposits the bond in the Party’s account on November 16, 2022, but the bank refuses to credit the bond to the party’s account, on the grounds that it was no longer valid. Is the bank correct?

• A. No, since Assad was a long-time supporter of the PPP.
• B. Yes, since the bonds were only issued from November 9 to November 15, 2022 and were invalid after that.
• C. Yes, since the party representative had not deposited the bond with an authorised branch of the bank.
• D. No, since the bond was valid on November 16, 2022.
• A. No, since Assad was a long-time supporter of the PPP.
• B. Yes, since the bonds were only issued from November 9 to November 15, 2022 and were invalid after that.
• C. Yes, since the party representative had not deposited the bond with an authorised branch of the bank.
• D. No, since the bond was valid on November 16, 2022.
• A. No, since Palak cannot ask for the bond back once she has given it to a political party.
• B. No, since the party had already deposited the bond, and the money had been credited to its account.
• C. Yes, since Palak bought the bond with her own money, and has the right to ask for it back.
• D. Yes, since the PPP changed its candidates, and Palak may no longer support the party.
• A. Yes, since it is likely to succeed in the upcoming elections.
• B. Yes, since it fulfils the criteria announced in the November 7, 2022 notification.
• C. No, since it does not fulfil the eligibility criteria announced in the November 15, 2022 notification.
• D. No, since it does not fulfil the eligibility criteria announced in the November 7, 2022 notification.
• A. The bond was no longer valid.
• B. Abraham could not give the bond to the PPP since the PPP was not active in his state.
• C. The PPP was not eligible to receive electoral bonds.
• D. The PPP could only deposit the bond in a bank branch located in Abraham’s state.

Answer 1

The Correct Option is B

Step 1 (Recall the sale period).
The sale of electoral bonds for the 23rd tranche was scheduled from November 9 to November 15, 2022. Bonds are valid for only 15 calendar days from the date of issue.
Step 2 (Consider the deposit window).
The bonds need to be deposited within the validity period, which in this case ended on November 15, 2022. Since the deposit was made on November 16, the bond had expired.
Step 3 (Conclusion).
Since the bond was deposited after the expiry of the validity period, the bank’s refusal to credit the bond to the party’s account is correct.
\[ \boxed{\text{Yes, since the bonds were only issued from November 9 to November 15, 2022 and were invalid after that. (Option B)}} \]

Answer 2

Step 1 (Recall the sale period).
The sale of electoral bonds for the 23rd tranche was scheduled from November 9 to November 15, 2022. Bonds are valid for only 15 calendar days from the date of issue.
Step 2 (Consider the deposit window).
The bonds need to be deposited within the validity period, which in this case ended on November 15, 2022. Since the deposit was made on November 16, the bond had expired.
Step 3 (Conclusion).
Since the bond was deposited after the expiry of the validity period, the bank’s refusal to credit the bond to the party’s account is correct.
\[ \boxed{\text{Yes, since the bonds were only issued from November 9 to November 15, 2022 and were invalid after that. (Option B)}} \]

Answer 3

Step 1 (Understanding the nature of electoral bonds).
Electoral bonds, once handed over to a political party and deposited in its account, cannot be reversed or refunded.
Step 2 (Review the rules of the Electoral Bond Scheme).
The bond becomes the property of the political party once it is deposited in the party's account. The money is credited immediately, and the transaction is final.
Step 3 (Conclusion).
Since Palak handed the bond over to the PPP and the bond was already deposited in the party’s account, she cannot ask for the bond back.
\[ \boxed{\text{No, since the party had already deposited the bond, and the money had been credited to its account. (Option B)}} \]

Answer 4

Step 1 (Review the eligibility criteria).
The new notification specifies that only political parties that have received at least 1% of the votes in the last Lok Sabha elections or the last Legislative Assembly elections are eligible to receive electoral bonds.
Step 2 (Assess the MPPP’s eligibility).
The MPPP is a new party, and as of November 2022, it has not contested any elections yet. Therefore, it does not meet the eligibility criteria based on past electoral results.
Step 3 (Conclusion).
Since the MPPP has not yet participated in any elections, it cannot receive electoral bonds under the new rules.
\[ \boxed{\text{No, since it does not fulfil the eligibility criteria announced in the November 15, 2022 notification. (Option C)}} \]

Answer 5

Step 1 (Recall the rules for electoral bonds).
Electoral bonds can only be deposited in the accounts of political parties that are eligible and actively registered in the state where the deposit is being made.
Step 2 (Consider the party’s eligibility).
The PPP is only active in Assad’s state, and since Abraham lives in a different state, the bond cannot be credited to the PPP’s account. The PPP must have an active presence in the state where the bond is deposited.
Step 3 (Eliminate other options).
- Option (A): The bond is valid for 15 days from the date of issue and had not expired by December 5, 2022.
- Option (C): The PPP was eligible to receive electoral bonds but must be active in the state where the deposit is made.
- Option (D): The bond can be deposited in any authorised branch, not necessarily in Abraham’s state.
Step 4 (Conclusion).
The most valid reason for the bank’s refusal is that the PPP was not active in Abraham’s state, and thus the bond could not be deposited.
\[ \boxed{\text{Abraham could not give the bond to the PPP since the PPP was not active in his state. (Option B)}} \]