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RBI had no objection to issuance of electoral bonds through the State Bank of India – Nirmala Sitharaman

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Union Finance Minister Nirmala Sitharaman has said in Rajya Sabha that the RBI had no objection to issuance of electoral bonds through the State Bank of India (SBI).

Replying to a supplementary during the Question Hour on electoral bonds through the SBI, the Finance Minister said the Reserve Bank of India (RBI) being a stakeholder was involved in extensive consultations with the government at the stage of conceptualisation.

“During the consultation process they had questions about the particular platform for its issuance as to who is going to issue. And also the proforma with which it is going to be issued.

“These consultations were recorded but at the end of it as long as the bonds were going to be issued by the SBI, they did not have any objection,” Sitharaman said.

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